This moring before market open, JPMorgan analyst upgraded COIN, and keep its target price same at $80.
There are several things which my be of interest:
1) He just downgraded COIN last month. Now just hours before the ER, he reversed it. It sounds a little bit urgency.
2) he cited that all 8 spot ETFs are using coinbase as custodian.
So, sometime, the Street analyst action can be viewed as a informative signal.
It is possible that he figured out something about COIN's story. Therefore, this alone maybe a buy signal today.
COIN base is a leverage play of crypto, frm both return and risk perspective. Investors need todeal with it from their own risk tolerance.