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coinbase shares plunge 10 percent after disappointing earnings report

Coinbase shares plummeted 10.6% following weaker-than-expected earnings and a cautious revenue outlook, marking its largest drop since June 2023. The decline was compounded by a broader market downturn and a 2% dip in Bitcoin prices, while other crypto-related stocks also suffered losses. Analysts suggest this may present a buying opportunity for long-term investors, despite concerns over subdued trading volumes and potential impacts from lower U.S. interest rates on stablecoin revenue.
CNBC
United States Dollar Riot Platforms, Inc. MARA Holdings, Inc. Coinbase Global, Inc. Robinhood Markets, Inc. USA Owen Lau Devin Ryan Show more
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18:30 31.10.2024
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