Coinbase's Recovery at Risk of Being Obscured by Crypto Retreat [BNN Bloomberg (Canada)]
Coinbase Global, Inc. - Class A (COIN)
US:NASDAQ Investor Relations:
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Company Research
Source: BNN Bloomberg
The largest US digital-asset trading platform is forecast to have swung back to a profit from a loss in the year-earlier period, with trading volume and mobile-app downloads surging during a resurgence in demand that was driven by the introduction of US spot Bitcoin exchange-traded funds. With the euphoria around the dominant cryptocurrency showing signs of waning in April, analysts are becoming concerned that a further retreat by the notoriously volatile token will curb demand from one of Coinbase's biggest customers - individual investors. The second quarter “is shaping up weaker than Q1, and the recent crypto price pullback has the potential to completely unwind the retail user gains we saw,” said John Todaro, an analyst at Needham & Co. who has a “buy” rating on Coinbase shares. That concern is already being seen in the stock of San Francisco-based Coinbase. After surging more than 50% in the first quarter, the stock slumped 23% in April. Bitcoin retreated 15% last month, aft
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- 5/2/24 - Beat
COIN
Sec Filings
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- 5/15/24 - Form 4
- COIN's page on the SEC website