Coinbase Stock: Signs Of Potential Recovery Emerge

Coinbase shares are showing early indications of a possible trend reversal in NASDAQ trading. The stock recently regained ground after weeks of downward pressure, rising to $183.83, representing a 0.4 percent increase. During the trading session, the share price reached a high of $186.75, after opening at $182.00. Trading volume at NASDAQ amounted to 463,516 Coinbase shares. The stock currently sits significantly below its 52-week high of $349.74, recorded on December 7, 2024 - a level that would require a 90.26 percent increase from current prices to reach again. Meanwhile, the 52-week low was established at $146.14 on September 7, 2024, approximately 20.50 percent below the current trading level.

Business Development and Outlook

Coinbase's recent financial results demonstrate positive momentum. In the last quarter of 2024, the company reported earnings of $5.13 per share, a substantial improvement compared to $1.14 in the same period the previous year. Revenue climbed to an impressive $2.27 billion, representing a 138.17 percent increase year-over-year. Market experts forecast earnings per share of $7.51 for the full year 2025. The next quarterly results for Q1 2025, expected on May 7, 2025, should provide further insights into business performance. Additionally, Coinbase is gaining significance as a service provider for corporations, recently being selected by LQR House Inc. as a partner for secure custody and management of their Bitcoin holdings following board approval for Bitcoin as a treasury reserve asset.

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Source StockWorld