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Why Coinbase Stock Crashed Today

TheMotleyFool

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Shares of Coinbase Global (NASDAQ: COIN) sank 8% on Wednesday after the digital-asset trading platform's third-quarter results fell short of investors' expectations.

Coinbase's net revenue decreased by 41% sequentially to $1.3 billion. That was below Wall Street's estimates, which had called for revenue of roughly $1.6 billion.

The cryptocurrency exchange's monthly transacting users fell to 7.4 million, compared to 8.8 million in the second quarter. Its trading volume, in turn, declined by 29% to $327 billion.

Source Fool.com

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