Coinbase Stock Is Losing Fans. Problems Are Stacking Up.

Wall Street analysts are turning against


Coinbase Global


as regulatory and revenue headaches pile up for the cryptocurrency broker. Investors may also want to take a second look, given that the shares have almost doubled in 2023.

Shares are up 97% since the start of January after falling 86% in 2022. The stock has benefited from gains in the price of


Bitcoin


and greater willingness among investors to take risks, but the same pressures that sent Coinbase stock plunging last year remain.