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Why Coinbase Global Stock Plunged 8% on Tuesday

TheMotleyFool

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Why Coinbase Global Stock Plunged 8% on Tuesday

Shares of cryptocurrency giant Coinbase Global (NASDAQ: COIN) fell as much as 8% in trading on Tuesday after getting a downgrade from an analyst. Shares closed the day down 7.6%.

Analysts at Mizuho Securities released a report that questioned Coinbase's move into the non-fungible token (NFT) marketplace business and cut its price target from $220 per share to $190 per share.

Image source: Getty Images.

Source Fool.com

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