Should Coinbase (COIN) Shareholders Be Worried?

By Neil Rozenbaum – May 16, 2022 at 11:15AM

NASDAQ: COIN

Coinbase Global

Market Cap

$53B

Today's Change

(2.01%) $4.30

Current Price

$218.08

Price as of April 18, 2024, 4:00 p.m. ET

Winter is here and Coinbase is paying the price.

In this video, I will be talking about the recent crypto crash fueled by Terra (LUNC 2.11%) and go over Coinbase's (COIN 2.01%) recent earnings report.

Coinbase reported earnings per share of negative $0.86 and revenue of $1.16 billion.
Net income (loss) was $430 million, and adjusted EBITDA was $20 million.
Monthly transacting users stood at 9.2 million, 50% higher than the prior year but down 19% quarter over quarter.
Coinbase has plenty of cash on balance, but management said it has no plans to buy back shares right now.
The sister token of stablecoin TerraUSD crashed to basically $0, bringing the whole cryptocurrency market down with it. Bitcoin dropped back to under $30,000.

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*Stock prices used were the closing prices of May 13, 2022. The video was published on May 16, 2022.

Neil Rozenbaum has positions in Coinbase Global, Inc. The Motley Fool has positions in and recommends Bitcoin, Coinbase Global, Inc., and Terra. The Motley Fool has a disclosure policy. Neil is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through his link, he will earn some extra money that supports his channel. His opinions remain his own and are unaffected by The Motley Fool.