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Analyst calls Robinhood 'a bad stock'; says Coinbase may 'go to zero'

Reuters Videos
Updated

STORY: Shares of Robinhood rose on Monday after media reports said Goldman Sachs upgraded the retail broker's stock to "neutral" from "sell."

However, Goldman still lowered its price target for Robinhood's stock to $9.50 from $11.50 and said its fundamentals are "still very weak."

Robinhood shares climbed even higher later on Monday, after Bloomberg News reported that Sam Bankman-Fried's FTX crypto exchange is exploring whether it might be able to acquire the broker, citing people with knowledge of the matter.

Trainer also said he believes shares of Coinbase Global "could possibly go to zero," claiming the crypto exchange has "no competitive advantage" against larger exchanges.