Coinbase On Following MicroStrategy's Bitcoin Playbook: Looking For 'Opportunities,' Says CFO, But Highlights Key Difference Between The Two Companies
Portfolio Pulse from Aniket Verma
Coinbase plans to expand its cryptocurrency investment portfolio, focusing on long-term holdings like Bitcoin and Ethereum. Despite missing Q3 revenue and earnings estimates, the company announced a $1 billion stock buyback program. Coinbase's stock fell 4.84% in after-hours trading.
October 31, 2024 | 7:39 am
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Coinbase plans to expand its cryptocurrency investments, focusing on long-term holdings. The company missed Q3 revenue and earnings estimates but announced a $1 billion stock buyback program. The stock fell 4.84% in after-hours trading.
Coinbase's announcement of expanding its crypto investments and a $1 billion stock buyback program is significant. However, missing Q3 revenue and earnings estimates negatively impacted investor sentiment, leading to a 4.84% drop in after-hours trading.
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