Why Coinbase Stock Soared 65% in November

04.12.24 04:16 Uhr

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Shares of Coinbase (NASDAQ: COIN) shot up 65% in November, according to data from S&P Global Market Intelligence. The cryptocurrency platform and market exchange posted disappointing earnings but saw its share price rise after the Trump victory in the United States presidential election. Crypto prices soared, an action that usually coincides with trading volume and leads investors to pile into Coinbase stock.Here's why Coinbase stock soared in November.Third-quarter earnings were underwhelming for Coinbase. The company posted $1.21 billion in revenue and earnings per share (EPS) of just $0.28, both of which were below analyst expectations. Revenue is still below the $7.5 billion peak in 2021, with cryptocurrency prices down below highs for most of 2022, 2023, and 2024.Continue readingWeiter zum vollständigen Artikel bei MotleyFool

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