What's Going On With Bitcoin- And Ethereum-Related Stock Coinbase Today
Portfolio Pulse from Henry Khederian
Coinbase Global Inc (NASDAQ:COIN) shares are trading lower by 5.00% to $50.62 following recent SEC charges and a drop in May crypto notional trading volumes reported by Robinhood. The SEC alleges that Coinbase has unlawfully facilitated the buying and selling of crypto asset securities since 2019, resulting in billions of dollars.
June 12, 2023 | 7:43 pm
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NEGATIVE IMPACT
Coinbase shares are trading lower due to recent SEC charges and a drop in May crypto notional trading volumes reported by Robinhood.
The SEC charges against Coinbase for allegedly facilitating the buying and selling of crypto asset securities unlawfully since 2019 have a direct negative impact on the company's stock price. Additionally, the drop in May crypto notional trading volumes reported by Robinhood adds to the negative sentiment surrounding the stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100