COIN Stock Price Extends Fall Despite Coinbase Adding 18,000 Bitcoin

Key Insights Coinbase (COIN) stock price traded lower as its Bitcoin treasury passed 18,000 BTC. Coinbase reported $2.51 in GAAP earnings per share and $718.7 million in net income. Morgan Stanley cut its COIN target to $120, while Barclays also set a $120 target. COIN stock fell today, even as the company disclosed a Bitcoin treasury milestone. The Coinbase stock price closed at $143.54 on Friday, while analysts lowered targets and executives disclosed possible share sales. Coinbase had also released third-quarter results one day earlier, beating earnings estimates but missing revenue forecasts. COIN stock price lost $17.05, or 10.62%, from Thursday’s closing price of $160.59. The decline left shares well below their previous close despite a daily recovery.

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