The November inflation report released last week revealed a second consecutive month of moderating inflationary pressure, which suggests that the stock market could have a better year in 2023 as the Federal Reserve may eventually have to pause the interest rate hikes that have weighed on equities in 2022. The consumer price index (CPI) for the month of November revealed a 7.1% increase in prices over the prior year, lower than the 7.3% increase anticipated by economists. Core inflation, which includes food and energy prices, increased 6% year over year, compared to a 6.1% increase projected by consensus estimates. Read More...
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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 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 (ticker: COIN) 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 has 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.
