Coinbase stock sinks 12% after Q2 revenue miss

Coinbase stock extended its post-earnings sell-off on Friday, falling more than 12% as weaker trading revenue and a $359 million quarterly loss raised concerns about the exchange’s near-term growth. Summary COIN fell 12.11% to $143.77, extending an initial 5.12% premarket decline. Second-quarter revenue reached $1.22 billion, below Wall Street’s $1.29 billion estimate. The stock broke below its $149.38 lower Bollinger Band, while daily RSI dropped to 39.19. Coinbase is targeting stablecoins, Base and prediction markets to reduce its dependence on trading fees. Coinbase stock extends its post-earnings decline Coinbase shares opened under heavy selling pressure after the company reported weaker-than-expected second-quarter results. COIN traded at $143.77 at the time of the chart reading, down $19.81, or 12.11%, for the session. The stock touched an intraday low of $139.11 after opening at $153.10, showing that the sell-off accelerated after the opening bell. The move followed a 5.12% premarket decline to $155.20. Coinbase had closed Thursday at $163.58 after gaining 2.18% during regular trading, but the earnings reaction erased that advance and pushed the shares to their lowest level...