Coinbase's Outlook for the Rest of 2022 Is not Looking Good -- Is It Time to Abandon the Stock?

·4 min read
Coinbase's Outlook for the Rest of 2022 Is not Looking Good -- Is It Time to Abandon the Stock?

Given that we are in the midst of a crypto winter, I don't think investors had high hopes coming into Coinbase's (NASDAQ: COIN) second-quarter earnings report. Coinbase reported a loss of $4.68 per share on net revenue of $803 million during the quarter, along with weak guidance for the rest of the year. Despite a recent rally, Coinbase's stock is still down more than 63% this year.