Coinbase Sees Pre-Market Uptick Ahead Of Q2 Earnings Report
Portfolio Pulse from Benzinga Neuro
Coinbase Global Inc. (NASDAQ:COIN) has seen a 1.34% pre-market uptick ahead of its Q2 earnings report, which is expected to show a significant revenue increase. Analysts predict revenue of $1.4 billion, up from $707.9 million last year. Cathie Wood’s Ark Invest has reduced its exposure to Coinbase amid a drop in Bitcoin.
August 01, 2024 | 10:50 am
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Coinbase Global Inc. (NASDAQ:COIN) has seen a 1.34% pre-market uptick ahead of its Q2 earnings report. Analysts predict a significant revenue increase to $1.4 billion, up from $707.9 million last year. Cathie Wood’s Ark Invest has reduced its exposure to Coinbase amid a drop in Bitcoin.
The pre-market uptick indicates positive investor sentiment ahead of the Q2 earnings report. The expected significant revenue increase and historical performance of beating estimates are likely to drive short-term price appreciation. However, Cathie Wood’s Ark Invest reducing exposure could temper some of the enthusiasm.
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