Coinbase shares plunged 15% on Thursday following disappointing third-quarter earnings and a modest fourth-quarter revenue outlook. The decline extended across crypto-linked stocks. Devin Ryan, an analyst at JMP Securities, described the sell-off as a short-term adjustment, suggesting potential long-term gains for Coinbase and Robinhood investors. Ryan highlighted that upcoming events like the U.S. election and rising crypto prices may boost Coinbase's Q4 revenue, though recalibrations are needed due to lower spreads from increased stablecoin trading.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Coinbase shares plunged 15% on Thursday following disappointing third-quarter earnings and a
00:07modest fourth-quarter revenue outlook. The decline extended across crypto-linked stocks.
00:13Devin Ryan, an analyst at JMP Securities, described the sell-off as a short-term adjustment,
00:18suggesting potential long-term gains for Coinbase and Robinhood investors.
00:22Ryan highlighted that upcoming events like the U.S. election and rising crypto prices
00:27may boost Coinbase's Q4 revenue, though recalibrations are needed due to lower
00:31spreads from increased stablecoin trading. For all things money, visit Benzinga.com.