Coinbase shares plunged 15% on Thursday following disappointing third-quarter earnings and a modest fourth-quarter revenue outlook. The decline extended across crypto-linked stocks. Devin Ryan, an analyst at JMP Securities, described the sell-off as a short-term adjustment, suggesting potential long-term gains for Coinbase and Robinhood investors. Ryan highlighted that upcoming events like the U.S. election and rising crypto prices may boost Coinbase's Q4 revenue, though recalibrations are needed due to lower spreads from increased stablecoin trading.
