The Coinbase logo is displayed on a mobile phone screen with stock market percentages in the background.
Coinbase shares were under pressure Thursday, a day after the company reported weaker-than-expected earnings and gave a tepid revenue outlook for the current quarter.
The stock lost 11%, putting it on pace for its biggest drop since June 2023, when it fell 12.1%.
Robinhood , which also reported weak earnings Wednesday, tumbled 15%.
Bitcoin , which is often a big influence on the price of Coinbase, slid 2% after hovering below its all-time high this week.
Persons:
Coinbase
Organizations:
Miners Mara Holdings