Why Coinbase Stock Popped, Then Dropped Today
Popular cryptocurrency-exchange Coinbase Global (NASDAQ: COIN) has seen some significant volatility today. This morning, Coinbase surged more than 3% before 10 a.m. ET, along with the broader market. However, market-driven volatility among many high-growth names, particularly key components of the Nasdaq and S&P 500, have driven markets lower this afternoon.
As of 2:15 p.m. ET, Coinbase investors have seen a 3% gain turn into a 1.6% loss, good for a swing of nearly 5% on the day.
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Source Fool.com
