Shares of the cryptocurrency trading platform have collapsed since notching a record on July 18.
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Coinbase
shares slid on Tuesday after the company announced a $2 billion private offering of convertible senior notes.
Shares were last down more than 5%. The decline occurred as investors adopted a risk-off stance on Tuesday and the three major averages declined.
Subscription revenue failed to offset weaker trading revenue.
Crypto trading platform Coinbase reported a surprise first-quarter loss and weaker-than-estimated revenue after the market close…
Coinbase shares inched up after the crypto exchange posted better-than-expected earnings and revenue for the third quarter.
Coinbase shares reached a 52-week high on Wednesday after a stablecoin bill passed the Senate last week.
The firm downgraded Coinbase to sell from neutral in a Sunday note.
Crypto stocks were among the hardest hit on Tuesday as investors dumped tech names.
