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Cowen Downgrades Coinbase Stock Citing Trading Volume Declines

Cryptocurrency exchange Coinbase (COIN) stock has been downgraded by analysts of Cowen (COWN), citing the lack of clarity on trading volume recovery after the FTX collapse.

Cowen downgraded COIN to perform in line with the market, as opposed to outperforming it, in a research note by analysts Stephen Glagola and George Kuhle. The investment bank also cut its price target to $36 from $75.

(By Jamie Crawley)

Coinbase tokenized stock FTX Coinbase tokenized stock FTX $87.77
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