Coinbase rally ahead of Q2 results, but key questions remain
Coinbase Rallies
Modified Date:- Published Date:-Categories: Cryptocurrency
Coinbaserally ahead of Q2 results, but key questions remain
Coinbase Global's (COIN) second quarter earnings due after the market close on Tuesday afternoon are expected to reflect continued challenging crypto market conditions. Wall Street is gearing up for another gradual drop intrading volume as the cryptocurrency bear market coincides with a further dropin retail demand.
The company will also face concerns surrounding cost controls in some listings and the recent SEC investigation. The question, however, is how much it's worth in the stock, which was recently at its worst, down nearly 90% from an all-time high hit late last year.
A near-doubling in the shares since July 1with much of that gain coming in the past few sessions suggests investors may be looking past the bad news to the next phase of growth.
In fact, shares edged higher this weekend, despite a drop in cryptocurrency prices following the company's announcement of a partnership with Black Rock to provide institutional clients with the asset management giant Coinbase's trading custody, prime brokerage and reporting platform to provide direct access to.
Coinbase, crypto market ,cryptocurrency, BlackRock