Why Coinbase Global Stock Slid on Monday
Coinbase Global (NASDAQ: COIN) investors lost a little coin on Monday, as their stock fell by 2% on the day. Since the company is mainly a facilitator of cryptocurrency trading, as the wider crypto market goes, so goes its share price.
It was actually more advantageous for crypto investors to hold stock in Coinbase on Monday than in many of the coins and tokens it tracks. Bitcoin, ever the bellwether, was down by nearly 8% on the day, while Ethereum was experiencing a 10%-plus drop.
Image source: Getty Images.
Source Fool.com
