Coinbase Reports Record Share of Global Crypto Trading Volume, But Its Price Still Drops. What Does That Mean For COIN Investors?
The company captured over 10% of the total for the first time in its history.
Overview
Coinbase Global’s (NASDAQ:COIN) just-released quarterly earnings report was an unsteady mix of encouraging news and dispiriting developments. In the first category was the cryptocurrency exchange operator’s admirable gain in market share. In the second, it posted key fundamentals that fell short of analyst expectations. Consequently, its share price slumped by almost 11% after the report was published.
After a good-news/bad-news quarter like that, it can be tough to determine how to approach a stock. Here’s a breakdown of Coinbase’s results, and my thoughts on whether its equity is a buy.
Image source: Getty Images.
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Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.