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Shares of COIN retreated initially after the company reported lower-than-expected revenue growth amid the volatility in the price of Bitcoin and other digital tokens last week. However, the stock rebounded soon thereafter. “The sentiment is overwhelmingly bullish, and it’s playing out in the fourth quarter—when fireworks usually happen,” said Natalia Radyushkin, the chief financial officer of crypto platform Unbanked.com.
COIN’s trading volume slumped nearly 30% sequentially to $327 billion in the third quarter, from $462 billion in the prior quarter. And analysts expect the stock to witness volatility in the coming weeks. On the other hand, given the growing popularity of crypto trading worldwide, and with businesses investing significantly into growing their crypto infrastructure, COIN’s long-term prospects look promising.
