COIN stock price: Coinbase Global soars higher on crypto market rebound
Premium|Take advantage of 75% OFF on your first month.
Grab this special offer, it's a 1 year for FREE deal! And access ALL our articles and analysis.
You have reached your limit of 5 free articles for this month.
BLACK FRIDAY SALE! 75% OFF!
Grab this special offer, it's a 1 year for FREE deal! And access ALL our articles and analysis.
CLAIM OFFER- NASDAQ:COIN surges by 4.44% on Monday amidst another green day for the broader markets.
- Coinbase retraces as Bitcoin and other cryptos start another bullish run.
- Coinbase announces its first earnings call as a publicly traded company on May 13th.
NASDAQ:COIN has had an eventful first couple of weeks on Wall Street to say the least, going from one of the most anticipated debuts in recent memory, to subsequently dropping in price by 30%. On Monday, the broader markets kicked earnings season off with a bang and Coinbase gained 4.44% to close the day at $304.54. To say that Coinbase has been volatile is an understatement as shares already have a twelve day price range of $282.07 to $429.54 as investors continue to struggle with the lofty valuations.
Stay up to speed with hot stocks' news!
Thus far Coinbase has largely been affected by the fluctuating price of cryptocurrencies, specifically the benchmark cryptos Bitcoin and Ethereum. Over the weekend, the correction that was triggered by last week’s proposal of an increase to the capital gains taxation rate by President Biden, tapered off and the crypto market re-emerged on another bullish run. While Coinbase may have just hit its first support point after being steadily sold off since its direct listing, it is clear that the price of Coinbase shares and the price of Bitcoin will continue to go hand in hand for the foreseeable future.
COIN Stock news
Coinbase has officially announced that it will be reporting its first quarterly earnings after the closing bell on May 13th. Much has been made about Coinbase’s performance so far as a publicly traded company, but this has not seemed to deter Ark Invest’s Cathie Wood from loading up on the stock. Ark Invest sold some of its highest conviction holdings in Square (NYSE:SQ) and Tesla (NASDAQ:TSLA) to fund the Coinbase investments, so it will be interesting to see how it performs in the long run.
- NASDAQ:COIN surges by 4.44% on Monday amidst another green day for the broader markets.
- Coinbase retraces as Bitcoin and other cryptos start another bullish run.
- Coinbase announces its first earnings call as a publicly traded company on May 13th.
NASDAQ:COIN has had an eventful first couple of weeks on Wall Street to say the least, going from one of the most anticipated debuts in recent memory, to subsequently dropping in price by 30%. On Monday, the broader markets kicked earnings season off with a bang and Coinbase gained 4.44% to close the day at $304.54. To say that Coinbase has been volatile is an understatement as shares already have a twelve day price range of $282.07 to $429.54 as investors continue to struggle with the lofty valuations.
Stay up to speed with hot stocks' news!
Thus far Coinbase has largely been affected by the fluctuating price of cryptocurrencies, specifically the benchmark cryptos Bitcoin and Ethereum. Over the weekend, the correction that was triggered by last week’s proposal of an increase to the capital gains taxation rate by President Biden, tapered off and the crypto market re-emerged on another bullish run. While Coinbase may have just hit its first support point after being steadily sold off since its direct listing, it is clear that the price of Coinbase shares and the price of Bitcoin will continue to go hand in hand for the foreseeable future.
COIN Stock news
Coinbase has officially announced that it will be reporting its first quarterly earnings after the closing bell on May 13th. Much has been made about Coinbase’s performance so far as a publicly traded company, but this has not seemed to deter Ark Invest’s Cathie Wood from loading up on the stock. Ark Invest sold some of its highest conviction holdings in Square (NYSE:SQ) and Tesla (NASDAQ:TSLA) to fund the Coinbase investments, so it will be interesting to see how it performs in the long run.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.