In brief
- Crypto exchange Bullish debuted on the New York Stock Exchange in August.
- Its stock soared to more than triple the initial offering price.
- But analysts at Compass Point say it’s currently trading too high.
Analysts at investment bank Compass Point initiated coverage of crypto exchange Bullish with a neutral rating and a $45 price target, about 16% below its current price, and amid wariness about its ability to crack the U.S. market.
Ed Engel and Abdullah Dilawar wrote that the U.S. Congress had yet to pass the CLARITY Act, market structure legislation that would clarify the jurisdictions of the Securities and Exchange Commission and Commodity Futures Trading Commission. New York State’s restrictive BitLicense could also hinder…
