Analysts at Citi downgraded Coinbase stocks from 'Buy' to 'Neutral' citing “too many unknowns” amid the uncertain regulatory backdrop in the US.
Crypto exchange Coinbase’s stock price will continue to be “weighed down” until regulators establish the legal “rules of the road” in the United States, according to investment analysts from Citi.on May 1, the investment bank downgraded shares of the crypto exchange from “Buy” to “Neutral” and lowered its price target — citing “too many unknowns” as the company battles it out with regulators.
"Until the regulatory 'rules of the road' are better established in the U.S., the stock will remain weighed down by this high level of uncertainty," Citi analyst Peter Christiansen wrote in a May 1 note.from the Securities and Exchange Commission over possible violations of securities laws — signaling possible future enforcement action.to give clarity into the regulatory treatment of certain digital assets.
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