Coinbase Defies Morgan Stanley Crash Warning with 8% Jump

Coinbase (COIN) defied Morgan Stanley's warning of a potential stock market crash within 30 days, jumping almost 8% to trade near $188.50 on Monday.

The warning came from Mike Wilson, Morgan Stanley's chief US equity strategist, who cited the danger as oil prices reaching $120-$140 per barrel, which would strain liquidity.

However, Compass Point analyst Ed Engel moved Coinbase from 'sell' to 'neutral', citing improving crypto-cycle and EBITDA trends, but tempered by secular pricing and margin pressure from competition.

Engel's new target price for Coinbase is $177, which the company surpassed on Monday's open. He expects the Digital Asset Market Clarity Act to fail this week, despite its potential impact on Coinbase's business model.