Coinbase Shares Fell In Price By Almost 8% In A Day

According to analysts, shares of the cryptocurrency exchange Coinbase fell in value by almost 8% in 1 day. This happened immediately after it became known that the trading floor would be subject to inspections by the US Securities and Exchange Commission (SEC). Representatives of the organization stressed that they had launched an investigation against the service leaders and its activities.

According to a Bloomberg report, the SEC accused Coinbase of abusing several tokens that should have been initially registered with the regulator as securities. Following the announcement, the company’s shares fell to $61.83 following yesterday’s close at $67.07. According to Nasdaq, the share price began to decline in pre-market trading, reaching only $62 and fell even more after the session opened.

Analysts said: that for Coinbase, the second quarter of this year was unsuccessful. The stock lost nearly 75% of its value, starting at $180 in April and dropping to $50 in June. Goldman Sachs downgraded their rating, predicting a further drop in asset values ​​amid a global collapse in the cryptocurrency market.

However, trading activities picked up last week, correlating with the growth of major financial indices. The experts assured that it is not possible to give an accurate forecast of the further development of the scenario. Most of them agreed that the value of Coinbase shares will ultimately deliver significant returns to holders over the long haul.

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