Coinbase shares are trading lower amid a drop in Bitcoin. The stock may also be under pressure following Robinhood's Bitstamp deal.
Portfolio Pulse from Benzinga Newsdesk
Coinbase shares are trading lower due to a drop in Bitcoin and potential pressure from Robinhood's Bitstamp deal.
June 07, 2024 | 8:03 pm
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Coinbase shares are trading lower due to a decline in Bitcoin prices and potential competitive pressure from Robinhood's Bitstamp deal.
The decline in Bitcoin prices directly impacts Coinbase's revenue from trading fees. Additionally, Robinhood's Bitstamp deal could increase competition, putting further pressure on Coinbase's market share.
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