Macroeconomic uncertainty has been a headwind for many businesses, but Shopify (NYSE: SHOP) and Coinbase Global (NASDAQ: COIN) have really felt the bite of the bear market. To better manage costs, Coinbase announced in mid-June that it would cut 18% of its workforce, and Shopify followed suit with an announcement yesterday that it would reduce 10% of its own workforce.. To further complicate matters, the U.S. Securities and Exchange Commission (SEC) is reportedly investigating Coinbase on the grounds that it may have allowed investors to trade unregistered securities, causing shares to fall 20% in one day. Coinbase and Shopify are currently 84% and 80% off their highs, respectively. Read More...
Macroeconomic uncertainty has been a headwind for many businesses, but Shopify (NYSE: SHOP) and Coinbase Global (NASDAQ: COIN) have really felt the bite of the bear market. To better manage costs, Coinbase announced in mid-June that it would cut 18% of its workforce, and Shopify followed suit with an announcement yesterday that it would reduce 10% of its own workforce.. To further complicate matters, the U.S. Securities and Exchange Commission (SEC) is reportedly investigating Coinbase on the grounds that it may have allowed investors to trade unregistered securities, causing shares to fall 20% in one day. Coinbase and Shopify are currently 84% and 80% off their highs, respectively.
