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Coinbase Stock Hits an All-Time Low. Where the Company Goes From Here.
In December of 2021, crypto exchange Coinbase Global (COIN) was about to cap a banner year: it had gone public with a valuation north of $85 billion and a $328 share price, raised over $3 billion through corporate bond offerings, and would ultimately take in $7.8 billion in annual revenue. Coinbase stock dropped 9.1% last week, only to fall to a new all-time low of $34.51 on Monday, before closing at $35.17. As it’s attempted to weather the crypto winter, Coinbase has been careful to distance itself from the likes of FTX and other crypto companies that have imploded recently, pointing to its identity as a Nasdaq-listed public company with audited financial statements.
