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Shares of Coinbase Global Inc. have run up a little too much in the past couple of months, even with all the positive regulatory developments around cryptocurrency and with bitcoin’s rally — so if you own the shares, it’s time to book some profits, Monness Crespi Hardt’s Gus Gala recommended.
Gala lowered his rating on the cryptocurrency exchange’s stock
COIN to neutral from buy, and he no longer has a price target. The downgrade comes just days before the company reports second-quarter results after the July 31 close.
This post was originally published on Market Watch
