In the fourth quarter of 2021, Coinbase’s stock was trading around record highs, worth more than $340 before starting to fall as technology stocks corrected into the new year. Those declines persisted into 2022, causing Coinbase to continue losing altitude as the year began.
The company’s Q4 earnings released in February were strong, but it warned of a slowdown in its trading business. That deceleration in trading activity continued, leading to the U.S. crypto exchange’s first-quarter earnings pushing the value of its shares to new lows.
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