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April 23, 2021, 9:29 a.m. EDT

Coinbase stock drops toward a 5th straight loss as bitcoin extends selloff

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By Tomi Kilgore

Shares of Coinbase Global Inc. /zigman2/quotes/225893452/composite COIN +2.70% dropped 3.4% in premarket trading Friday, putting them on course for a fifth straight decline, as a selloff in bitcoin /zigman2/quotes/31322028/realtime BTCUSD +0.03% toward a 7-week low weighed on the recently public cryptocurrency exchange. The stock has dropped 14.2% over the past four sessions, and has tumbled 23.0% since its first trade of $381.00 on April 14. Meanwhile, bitcoin slumped 4.6% early Friday, and has dropped 19.8% this week and has lost 24.1% from the an all-time intraday high reached on April 14, according to FactSet data. The S&P 500 /zigman2/quotes/210599714/realtime SPX +0.74% has lost 1.2% this week, and futures /zigman2/quotes/209948968/delayed ES00 +0.78% are up 0.1% ahead of Friday's open.

/zigman2/quotes/225893452/composite
US : U.S.: Nasdaq
$ 263.70
+6.94 +2.70%
Volume: 4.24M
May 7, 2021 4:00p
P/E Ratio
162.97
Dividend Yield
N/A
Market Cap
$51.15 billion
Rev. per Employee
$1.02M
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/zigman2/quotes/31322028/realtime
US : CoinDesk
57,717.43
+18.86 +0.03%
Volume: 0.00
May 7, 2021 10:05p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,232.60
+30.98 +0.74%
Volume: 2.05B
May 7, 2021 5:15p
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/zigman2/quotes/209948968/delayed
US : U.S.: CME
$ 4,226.75
+32.55 +0.78%
Volume: 1.61M
May 7, 2021 4:00p
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