COIN is trading at $163.49 (-3.05%) as a sharp decline in major cryptocurrencies and mounting Q4 revenue concerns weigh on the exchange.
- Bitcoin and Ethereum have dropped 4.74% and 4.12% respectively, contributing to a 45% decline for the stock over the last three months.
- Markets are bracing for the February 12 earnings call, with EPS expected to plunge to $1.07 from $3.39 and revenue projected to fall to $1.86 billion.
- Additional pressure stems from delayed CLARITY Act legislation and a broader rotation out of the technology sector.