Coinbase is reeling from recent regulatory action as investors are fleeing from its shares. This has resulted in company stock slumping 28.6% over the past three weeks.
On April 11, COIN was trading at a little over $70, however, it had slid to $51 in after-hours trading on May 2 following a 3% fall since the beginning of this week.
The stock is currently down almost 40% from its 2023 high of $84 on March 21 as America’s war on crypto intensifies. By comparison, crypto markets have retreated just 8.5% from their 2023 high.
Coinbase shares are now trading down 85% from their all-time high of $343 in November 2021, the same month as the crypto bull market peak.
Coinbase Downgraded
Earlier this week, Citi Group downgraded shares of the crypto exchange from Buy to Neutral, citing an uncertain regulatory backdrop. Analyst Peter Christiansen wrote:
“Until the regulatory ‘rules of the road’ are better established in the U.S., the stock will remain weighed down by this high level of un
We współpracy z: https://cryptopotato.com/coinbase-stock-slides-as-exchanges-regulatory-woes-deepen/
