TipRanks
2022-11-22 11:23:11

Can Coinbase Crawl out of the Crypto Carnage?

Shares of Coinbase Global (NASDAQ:COIN) have now tanked ~83.6% so far this year, short interest in the stock is inching closer to 18% and its market capitalization is just shy of $10 billion. Add to this, while the crypto exchange had posted an EPS of $17.10 on revenues of $7.84 billion in 2021, analysts now see the company incurring a net loss per share of $5.5 on revenues of roughly $3.2 billion for 2022. This change of fortunes has come about on tanking cryptocurrency prices that always seem to find a new bottom and ongoing upheavals in the crypto industry.

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