Bitcoin crash is crushing Coinbase. Stock plunges again
CNN
The bitcoin crash is hitting Coinbase really, really hard.
The cryptocurrency brokerage reported a first-quarter loss late Tuesday and revenue that fell 27% from a year ago, missing Wall Street's forecasts. Coinbase shares plummeted nearly 25% in early trading Wednesday morning and hit their lowest level ever.
Coinbase stock is now down more than 75% this year and is trading nearly 85% below its all-time high price from November. Shares have lost more than half their value in just the past week alone.
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