Cryptocurrency exchange Coinbase Global, Inc.’s (COIN) stock has declined 73.4% in price year-to-date and 74.5% over the past year to close the last trading session at $67.03. It is trading 81.8% below its 52-week high of $368.90, which it hit on November 9, 2021.
The stock has been hit hard since the beginning of the year due to the overall risk-off environment. The sell-off in the risky crypto market on concerns over the rising interest rates and insider trading charges against COIN have led to the stock’s continued decline this year. The most popular cryptocurrencies, bitcoin and Ethereum are down more than 55% year-to-date.
