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Coinbase, Amazon, Tesla: Top Stock Movers This Week
By Syfe  •  July 8, 2022
US stocks finished higher on Thursday as multiple sectors notched gains. Investors will be assessing the June employment report due out today for indications that job and wage growth may have peaked. This could suggest that inflation pressures are slowly easing. Here are this week’s highlights. Why Coinbase rose this week On Wednesday, crypto exchange operator Coinbase was downgraded from Overweight to Neutral by Atlantic Equities and had its price target cut from $95 to $54 following concerns about the company’s inability to attract long-term talents. The investment firm also cut its net revenue estimate for Coinbase by more than 50% for fiscal years 2023 and 2024. After a brief dip, shares of Coinbase rebounded on Thursday, alongside the price of Bitcoin, the world’s largest cryptocurrency. Bitcoin rose above US$21,000 for the first time in over a week yesterday, tracking gains in equity markets. Shares of other crypto stocks rose on Thursday too. Coinbase jumped 11%, Bitcoin buyer MicroStrategy rallied 17%, and crypto bank Silvergate Capital gained 6%....
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By Syfe
Syfe is a digital investment platform that is building the next generation of financial solutions for individuals across Asia ...
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