NasdaqGS:COINCapital Markets
Coinbase (COIN) Stock Price Sinks As Losses Deepen And Valuation Stays Rich
Coinbase Global is waking up to a harsh verdict. The stock dropped about 11% to roughly US$146 after investors reacted to fresh quarterly numbers that showed another loss and softer revenue. The short term message is blunt. Crypto volumes and fee income are not doing enough right now to offset the cost base.
The long term question is very different. Coinbase is still being valued at more than 6x sales while trailing twelve month earnings sit in the red. The key takeaway from this earnings...