We recently published 10 Stocks Investors Are Dumping Fast. Coinbase Global, Inc. (NASDAQ:COIN) is one of the worst-performing stocks on Friday.
Coinbase Global fell by 16.7 percent on Friday to close at $314.69 apiece as investors sold off positions amid the broader market pessimism that heavily spilled over to cryptocurrency prices and crypto trading platforms.
Coinbase Global, Inc. (NASDAQ:COIN) dropped in line with Bitcoin prices, which, as of writing, were down by 1.79 percent at the $113,000 level.
In other developments, Coinbase Global, Inc. (NASDAQ:COIN) reported an impressive earnings performance in the second quarter of the year, which soared by 3,869 percent to $1.4 billion from only $36 million in the same period last year.
Net revenues also inched up by 2.9 percent to $1.42 billion from $1.38 billion year-on-year. However, total transaction revenue was notably lower by 2 percent at $764.3 million versus the $780.9 million year-on-year amid a muted trading during the second quarter as a result of a more cautious market environment.
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