Cryptocurrencies

Coinbase Closes at Record Low as Mizuho Warns on Revenue

Largest U.S. crypto exchange falls for third day amid rout
Mizuho analyst warns of potential sales miss in first quarter

Dan Dolev, senior fintech analyst at Mizuho Securities, discusses why he cut his price target for Coinbase Global Inc. to $220 from $300 on “BloombergMarkets: The Close.”

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By Yueqi Yang

January 25, 2022 at 6:15 PM UTC

Updated on

January 25, 2022 at 9:41 PM UTC

This article is for subscribers only.

Shares of Coinbase Global Inc. closed at their lowest ever amid a broad-market tumble and a fresh warning from Mizuho Securities about the potential of a revenue miss in the first quarter.

The largest U.S. cryptocurrency trading platform fell 3.1% to $185.63 on Tuesday. After the three-day decline, shares are down nearly 50% from a November peak. The stock debuted on the Nasdaq in April.