Why Investors Should Be Excited About Coinbase Despite a 27% Revenue Decline
After Coinbase (NASDAQ: COIN) reported its 2022 first-quarter financials on May 10, investors immediately sent shares tumbling to all-time lows. A 27% year-over-year decrease in sales, coupled with lower trading volume, echo weak trends in the broader cryptocurrency market.
At the start of 2022, the crypto industry had sold off along with stocks before recovering somewhat in March, so a poor showing from Coinbase shouldn't have been a big surprise. Shareholders must practice patience with this stock, adopt a long-term mindset, and be prepared for a roller-coaster ride as the business helps to build the crypto economy.
No one ever wants to see falling revenue, but investors do have one key metric to be excited about.
Source Fool.com
