Coinbase sees largest single-day decline in 2 years amid stock market wipeout
Coinbase’s share price experienced its largest daily drop in over two years amid a broader stock market decline, yet traders remain bullish on the firm’s earnings prospects for 2025.
Shares in crypto exchange Coinbase Global Inc (COIN) have experienced its largest significant single-day decline in over two years after its latest earnings missed analyst estimates alongside a stock market plummet.
However, traders are confident that the stock will make a strong comeback in 2025.
On Oct. 31, COIN closed the trading day at $179.25, representing a 15.34% decline — the largest intraday drop since July 26, 2022, when the stock fell 21% amid a probe from the United States Securities and Exchange Commission.
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Author: Ciaran Lyons
