Why Coinbase Stock Dropped 9.2% Today
Shares of Coinbase Global (NASDAQ: COIN) dropped by as much as 10.4% in trading on Monday as investors speculated that interest rates would stay higher for longer than previously expected. Shares ended the session down 9.2%.
The common perception is that lower rates help the crypto industry. Low rates for safe, interest-bearing investments push more investors into riskier assets, and crypto falls in the high-risk category.
Major crypto tokens often trade correlated to growth stocks, so Monday's reaction makes sense when you think of it as simply a trading move.
Source Fool.com
Coinbase Global Inc. Stock
€132.88
-7.740%
Our community is currently high on Coinbase Global Inc. with 27 Buy predictions and 14 Sell predictions.
As a result the target price of 181 € shows a positive potential of 36.21% compared to the current price of 132.88 € for Coinbase Global Inc..
