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Coinbase Head Predicts 50% Revenue Slump This Year, Stock Down 86%

Coinbase stock has plunged 81% this year and a whopping 86% since its peak. COIN has actually performed worse than the major cryptocurrencies traded on the exchange.

According to MarketWatch, the stock lost 2.7% on the day in a fall to $41.27 in after-hours trading. Furthermore, COIN is very close to its all-time low of $40.64 last month.

Tech stock traders are now considering COIN as a “generational buy” since prices are likely to rebound when crypto markets do. This may not be until mid-2023 or later, however.

(By Martin Young)

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