Coinbase Stock Tumbles on JPMorgan Downgrade, Job Cuts As Bitcoin Plummets

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The Street

By Martin Baccardax JPMorgan analyst Kenneth Worthington warmed pf “more downside to the shares should cryptocurrency markets not stabilize” as he slashed his price target on the group to $68 a share. Updated at 8:23 am EST Coinbase Global (COIN) – Get Coinbase Global Inc Report shares slumped lower Tuesday after analysts at JPMorgan slashed their price target on the digital currency trading platform amid a trillion meltdown in global cryptocurrency markets. Shares were further pressured by news that the group will cull around 18% of its workforce, a level that would eliminate around 1,100 job…

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