Coinbase Plunges for 12 Straight Sessions — Wall Street Analysts Sharply Divided

TradingKey – Shares of Coinbase Global Inc. (NASDAQ: COIN) have tumbled more than 30% over the past 12 trading days, with analysts split on the company’s outlook. On Tuesday, August 5, Coinbase stock extended its losing streak, dropping 6.34% to close at $297.99, revisiting its June 23 low.

Coinbase Price Chart – Source: TradingView

From Record High to Rapid Decline

On July 18, Coinbase hit an all-time high of $444, but has since entered a sharp correction, with a peak-to-trough drawdown of 33%. The sell-off is being driven by three key factors:

• Broad crypto market weakness since Bitcoin (BTC) ’s July 14 peak
• Q2 revenue miss, despite beating EPS expectations
• Plans to issue $2 billion in convertible debt, potentially diluting existing shareholders

The downturn reflects both macro pressures and company-specific challenges, including investor concerns over Coinbase’s capital structure and near-term growth trajectory.

Analyst Sentiment: A Divided Street

Wall Street remains split on Coinbase’s valuation and strategic direction: