Coinbase Stock Triples in 2023 After Firm Survives Crypto Chaos
- Rally helps shares blow past average Wall Street price target
- ‘Coinbase is one that survived,’ Needham analyst Todaro says
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A 62% rally in Coinbase Global Inc. shares this month is shining a spotlight on Wall Street euphoria around the largest US crypto exchange.
In the shadow of FTX’s Sam Bankman-Fried fraud conviction and revelations at Binance Holdings Ltd., traders are rushing to snap up shares in Coinbase on hopes that it’ll see an influx of business — especially if authorities approve exchange-traded funds that target Bitcoin.