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Coinbase Stock Falls On Disappointing Crypto Trading Results

Coinbase Stock Falls On Disappointing Crypto Trading Results

The stock of Coinbase Global (NASDAQ: $COIN) is down 6% after the cryptocurrency platform reported disappointing financial results due to weak trading in digital assets. 

Coinbase posted a loss per share of -$1.36 U.S., which was much greater than an expected loss of -$0.17 U.S. that had been expected among analysts.

Revenue in the quarter came in at $1.2 billion U.S., which fell short of Wall Street forecasts that called for sales of $1.3 billion U.S. 

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It was the third consecutive quarter that Coinbase missed Wall Street’s forecasts for both revenue and earnings.

Management blamed the poor results on weak crypto trading on its platform as the price of…

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