Coinbase faced significant pressure as its stock dropped 2.1% following a Supreme Court decision that declined to hear its appeal regarding IRS access to user transaction data. Simultaneously, ARK Invest sold $95 million worth of Coinbase shares as part of a portfolio rebalancing, contributing to the selling pressure. Despite these setbacks, Coinbase shares have seen considerable growth, more than doubling from $172.82 in April to $350.49 at the end of June. Analysts remain optimistic, forecasting a Q2 earnings gain of $1.33 per share, with price targets set at $402 and $510 by Benchmark and Bernstein analysts, respectively. The company continues to navigate regulatory challenges while aiming for stability and growth in the future.

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