5 Notable Market Movers to Watch on Wednesday

3. Coinbase Global, Inc. (NASDAQ:COIN)

Number of Hedge Fund Holders: 46

It has been a rough year for Coinbase Global, Inc. (NASDAQ:COIN). The company’s share price has plummeted nearly 80 percent so far in 2022. The drop was mainly attributed to the declining crypto prices.

Shares of Coinbase Global, Inc. (NASDAQ:COIN) once again fell this morning following a downgrade from Atlantic Equities. The research firm cut its ratings for the cryptocurrency exchange platform from “Overweight” to “Neutral,” citing concerns over the crypto economy.

Atlantic Equities also cut its price target for Coinbase Global, Inc. (NASDAQ:COIN) from $95 per share to $54 per share.