Piper Sandler says buy the dip in Coinbase stock, sees nearly 40% rise

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Jesse Pound@/in/jesse-pound@jesserpound
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Monitors display Coinbase signage during the company's initial public offering at the Nasdaq MarketSite in New York on April 14, 2021.
Michael Nagle | Bloomberg | Getty Images

The recent slide for Coinbase shares has gone too far and investors should buy into the stock before it bounces back like some of the major cryptocurrencies, according to investment firm Piper Sandler.