Coinbase Is Falling, but a Nasdaq Biotech Stock Is Thursday's Big Loser
Markets reacted with some uncertainty to Wednesday's decision from the Federal Reserve to leave interest rates unchanged. Despite the pause, the Fed signaled further potential rate hikes, and that left some investors worrying whether the central bank could exacerbate a slowing economy. The Nasdaq Composite (NASDAQINDEX: ^IXIC) appeared poised to lose more than half a percent based on stock index futures Thursday morning.
One Nasdaq stock that contributed to the morning's decline was Coinbase Global (NASDAQ: COIN), which has seen considerable pressure lately. Yet the biggest drop in the market came from a biotech stock, Mersana Therapeutics (NASDAQ: MRSN), which announced extremely disappointing news about a key candidate treatment.
Shares of Coinbase Global were down 5% early Thursday morning. The cryptocurrency exchange provider made a smart move with its capital structure, but it still faces plenty of challenges on multiple fronts.
Source Fool.com
Coinbase Global Inc. Stock
Our community is currently high on Coinbase Global Inc. with 31 Buy predictions and 16 Sell predictions.
However, we have a potential of -25.86% for Coinbase Global Inc. as the target price of 161 € is below the current price of 217.15 €.
