Coinbase Stock Routed on Earnings Report, Bitcoin Drop. Where From Here?

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The Street

By Bret Kenwell Coinbase stock is hitting all-time lows today. This is no-man’s land right now. Let’s look at the chart. Coinbase (COIN) stock on Wednesday is hitting all-time lows, becoming another domino in the slump in growth stocks. The crypto exchange’s shares on the day have lost a quarter of their value. The stock is now down 88% from its high. The company reported softer-than-expected first-quarter results and provided a weak trading outlook. Given the state of the market — both in crypto and growth stocks — the weak results are not surprising. The tumble in bitcoin prices and cryptocu…

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