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Big Mistake: Coinbase Shares Fell 20% in December

TheMotleyFool

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Big Mistake: Coinbase Shares Fell 20% in December

Shares of Coinbase Global (NASDAQ: COIN) fell by 19.9% in December, according to data from S&P Global Market Intelligence. This move was triggered by weak pricing trends across the cryptocurrency market, but that correlation looks like a mistake.

It's true that major cryptocurrencies suffered similar declines in December. Bitcoin (CRYPTO: BTC) fell by 18.4% while Ethereum (CRYPTO: ETH) lost 16.4%. The ups and downs of their chart lines were bunched tightly together: