Coinbase Global's stock is experiencing downward pressure on January 7, 2025, as insider selling and portfolio adjustments by major investors weigh on market sentiment. Notably, Cathie Wood's Ark Invest sold a portion of its Coinbase holdings, contributing to a broader trend of insider sales. This follows a period of significant gains for Coinbase, with the stock appreciating by 80% over the past year. Despite the recent sell-off, analysts remain optimistic about Coinbase's future, with Piper Sandler raising its price target to $285, suggesting a potential downside from current levels.
The GraniteShares 2x Long Coinbase Daily ETF (CONL) is trading at $44.09, reflecting a 6.11% decrease from the previous close.