The operator of the Coinbase Global Inc. share has been bound around $220 level since Monday, slumped by49% of its shares from its all-time high of $430 listed in April of this year.
On 21st of June, it opened at a near all time low of $220 and it is at $222.47 on June 23 (10 am). On trading at $222.47 on NASDAQ, it was down $0.13 as of 10 am IST on June 23. It opened at $216.25, and touched the highest of $223.15 and lowest of $10.77 throughout the day.
On NASDAQ, Coinbase was listed as the first major crypto company go to public on April 14th, 2021. Between the periods, it has seen the range of shares $208 low to $430 high.
This slide in price could be because of poor performance of the cryptocurrency, including the Bitcoin after the China’s Crypto crackdown.
Multiple tweets from Tesla and SpaceX chief, Elon Must also affect the Cryptocurrency and related stocks. This could be the reason of hauls by china and investor pulling prices.
However, as per asset management firm Ark, Invest remains very bullish on the stock. Its CEO, Cathie Wood has so far bought nearly 7 millions of Coinbase shares which are worth $1.5 million at current price.
Meanwhile, Bitcoin recovered from its five-month low where it fell down to below $30,000 due to the China’s central bank deepened a crackdown on crpytocurreny.
