Coinbase Global Inc. (COIN) PT Lowered to $61 at JPMorgan

Pre-Open Stock Movers 06/16: Large-Cap Tech Falls on Recession Fears; Twitter Gains as Musk to Reassure on Deal (more...)

June 16, 2022 9:21 AM EDT

Pre-Open Stock Movers:

Advent Technologies Holdings, Inc. (NASDAQ: ADN) 140% HIGHER; received notification from the Greek State for funding under the Important Projects of Common European Interest (IPCEI) Hydrogen Technology, Green HiPo. The notification from the Greek State has been sent to the European Union (EU) under the IPCEI framework. Upon EU ratification, total funding of euro 782.1 million for Advents Green HiPo project will be made available over a period of six years...

AC Immune SA (NASDAQ: ACIU) 30%... More

Bitcoin-Related Stocks Fall as Bitcoin Falls Back to $21K Level

June 16, 2022 6:32 AM EDT

Bitcoin-related stocks are lower again in pre-open trade Thursday with Bitcoin down 6% to $21,186.

Coinbase (NASDAQ: COIN) -5%Marathon Digital Holdings (NASDAQ: MARA) -3%Microstrategy, Inc. (NASDAQ: MSTR) -7.5%Riot Blockchain (NASDAQ: RIOT) -3%
... More

Crypto stock short sellers up about 126% this year - S3 Partners

June 15, 2022 12:44 PM EDT

(Reuters) - Short sellers of crypto stocks have clocked about 126% in mark-to-market gains this year, far outpacing those from other sectors, according to financial and analytics firm S3 Partners, amid a risk-off sentiment in the broader equities market.

The downturn in the world's largest cryptocurrency, bitcoin, which has fallen to $21,229 from its record high of $69,000 hit in... More

Pre-Open Stock Movers 06/15: Hertz Gains on Buyback, Snowflake on Upgrade; Bitcoin Names Weaker Again (more...)

June 15, 2022 9:19 AM EDT

Pre-Open Stock Movers:

IronNet (NYSE: IRNT) 14% LOWER; reported Q1 EPS of ($0.33), $0.16 worse than the analyst estimate of ($0.17). Revenue for the quarter came in at $6.69 million versus the consensus estimate of $7.02 million.

Wheels Up Experience (NYSE:... More

Coinbase Global Inc. (COIN) PT Lowered to $89 at Needham & Company

June 15, 2022 7:13 AM EDT

Needham & Company analyst John Todaro lowered the price target on Coinbase Global Inc. (NASDAQ: COIN) to $89.00 (from $173.00) while maintaining a Buy rating.

The analyst commented, "Coinbase announced an 18% workforce reduction this week as the 'crypto winter' impacts operators in... More

Coinbase Global Inc. (COIN) PT Lowered to $70 at Goldman Sachs

June 15, 2022 6:58 AM EDT

Goldman Sachs analyst Will Nance lowered the price target on Coinbase Global Inc. (NASDAQ: COIN) to $70.00 (from $80.00) while maintaining a Neutral rating.... More

Microstrategy (MSTR), Other Bitcoin-Related Stocks Fall at Bitcoin Falls Below $21K

June 15, 2022 6:24 AM EDT

Bitcoin-related stocks are under pressure again today as Bitcoin falls another 6.6% to $20,656.

Bit Digital (NASDAQ: BTBT) -3%Coinbase (NASDAQ: COIN) -5%Marathon Digital Holdings (NASDAQ: MARA) -3.5%Microstrategy, Inc. (NASDAQ: MSTR) -7.6%Riot Blockchain (NASDAQ: RIOT) -5%
... More

Coinbase Global Inc. (COIN) PT Lowered to $120 at Piper Sandler

June 15, 2022 6:08 AM EDT

Piper Sandler analyst Richard Repetto lowered the price target on Coinbase Global Inc. (NASDAQ: COIN) to $120.00 (from $180.00) while maintaining a Overweight rating.... More

Warner Bros Discovery (WBD) to Cut Up to 30% Workforce, Shares Gain

June 15, 2022 5:37 AM EDT

Shares of Warner Bros Discovery (NYSE: WBD) are up 2% in pre-market Wednesday on reports the company is prepared to slash up to 30% of its workforce.

The company is reportedly planning to let go of about 1,000 employees in its advertising unit and... More

Popular stocks with increasing volume: ORCL AAL XOM TWTR OXY COIN UBER

June 15, 2022 3:54 AM EDT

Popular stocks with increasing volume: ORCL AAL XOM TWTR OXY COIN UBER

... More

Coinbase Global Inc. (COIN) PT Lowered to $45 at Mizuho Securities

June 14, 2022 12:33 PM EDT

Mizuho Securities analyst Dan Dolev lowered the price target on Coinbase Global Inc. (NASDAQ: COIN) to $45.00 (from $60.00) while maintaining a Neutral rating.

The analyst commented, "This morning, COIN announced plans to reduce its workforce by 18%. This comes shortly after overly ambitious... More

Pre-Open Stock Movers 06/14: Oracle Jumps on Earnings, FedEx Up on Dividend Hike; Outset Medical Falls on FDA Product Hold (more...)

June 14, 2022 9:21 AM EDT

Pre-Open Stock Movers:

Kaival Brands Innovations Group (NASDAQ: KAVL) 44% HIGHER; reached an agreement with Philip Morris Products S.A., a wholly owned affiliate of Philip Morris International Inc. (NYSE: PM), for the development and distribution of electronic nicotine delivery system ("ENDS") products in markets outside of the U.S., subject to market (or regulatory) assessment.

Outset Medical, Inc. (Nasdaq:... More

Coinbase (COIN) Erases Decline, Now Up 1%

June 14, 2022 9:15 AM EDT

Coinbase (NASDAQ: COIN) Erases Decline, Now Up 1%

Shares were down 6% earlier on the downgradeit announced job cuts earlier
... More

Coinbase (COIN) to Cut 18% of Jobs as Crypto Winter Arrives; Shares Down 6%

June 14, 2022 8:41 AM EDT

Coinbase (NASDAQ: COIN) announced today that it plans to reduce its workforce by around 18% with roughly 1,100 employees set to lose their jobs.

The crypto exchange plans have approximately 5,000 total employees as of the end of its current fiscal quarter on June 30, 2022, it said in a filing. Coinbase will incur between $40 million to... More

Coinbase slashes 1,100 jobs as crypto winter sets in

June 14, 2022 8:19 AM EDT

By Nivedita Balu

(Reuters) - Coinbase Global Inc will cut about 1,100 jobs, or 18% of its workforce, the cryptocurrency exchange said on Tuesday, the latest company preparing to ride out a downturn in the cryptosphere.

The cryptocurrency market has been roiled by extreme volatility as investors dumped risky assets on fears that higher inflation readings would force the U.S. Federal Reserve to turn more aggressive in raising interest rates and tip the economy into a recession.

"We appear to... More

Coinbase (COIN) announces restructuring plan, reduction of workforce by approximately 1,100 employees

June 14, 2022 8:10 AM EDT

Coinbase (NASDAQ: COIN) disclosed:

On June 14, 2022, Coinbase Global, Inc. (the Company) announced a restructuring plan (the Plan) to manage its operating expenses in response to current market conditions and ongoing business prioritization efforts. The Plan involves a reduction of the Companys workforce by approximately 1,100 employees, representing approximately 18% of the Companys global workforce as of June 10, 2022, following which the Company expects to have approximately 5,000 total employees as of the end of its current fiscal quarter on June 30, 2022. The Company expects execution of the Plan to be substantially complete in the second quarter of... More

Coinbase (COIN) Stock Extends Decline After JPMorgan Downgrade, PT Cut by 60%

June 14, 2022 8:04 AM EDT

JPMorgan analyst Kenneth B. Worthington downgraded shares of Coinbase Global (NASDAQ: COIN) to Neutral from Overweight.

The price target is cut by 60% to $68.00 as the analyst predicts the slide in cryptocurrency prices and robust investments will likely weigh on profits for some time.

While we continue to... More

UPDATE: JPMorgan Downgrades Coinbase Global Inc. (COIN) to Neutral, ' Slide in Cryptocurrency Prices and Pace of Investment Likely to Weigh on Profits for Some Time'

June 14, 2022 6:27 AM EDT

(Updated - June 14, 2022 6:27 AM EDT)

JPMorgan analyst Kenneth Worthington downgraded Coinbase Global Inc. (NASDAQ: COIN) from Overweight to Neutral with a price target of $68.00 (from $171.00).

The analyst comments "We rate Coinbase Neutral. We see Coinbase as both a leading driver and beneficiary... More

Popular stocks with increasing volume: XOM SOFI COIN PLTR NIO

June 14, 2022 3:50 AM EDT

Popular stocks with increasing volume: XOM SOFI COIN PLTR NIO

... More