Analysts suggest that further layoffs may be needed to help the exchange bring costs down to a manageable level, as Goldman Sachs has categorized Coinbase stock as a sell rating 👀
"We believe COIN will need to make substantial reductions in its cost base in order to stem the resulting cash burn as retail trading activity dries up," an analyst says.
The damning research note saw COIN's share price fall by 10.76% on Monday — and over the past year, the stock's plunged by 77%. "We believe COIN will need to make substantial reductions in its cost base in order to stem the resulting cash burn as retail trading activity dries up."— about 1,100 staff — after admitting that it had hired too aggressively during the bull market.and integrate advanced trading features into its flagship Coinbase app, which could "make lower pricing more easily available to users.
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