Analyst cuts Coinbase price target 40% ahead of Q2 earnings

Wall Street is disconnected from reality regarding Coinbase. Despite a staggering $394 million net loss and Bitcoin plummeting 46% over the past year, analysts like Citi are still slapping "Buy" ratings on the stock even after slashing price targets by 41%. With trading volumes cratering, how can anyone justify a bullish stance on a company hemorrhaging cash while its core product loses half its value? Is this a massive trap for retail investors? What’s your take?
This summary was generated by AI