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Benzinga
Benzinga
Business
Henry Khederian

Why Bitcoin-Related And Ethereum-Related Stock Coinbase Is Falling

Shares of several companies in the broader tech sector, including Coinbase Global Inc (NASDAQ:COIN), are trading lower as investors weigh Wednesday's Fed announcements and assess tapering outlook. Expected rate hikes for 2022 which could weigh on tech and growth stocks.

Coinbase shares are also trading lower amid overall market weakness as omicron variant concerns weigh on stocks across the broader tech sector.

See Also: Jim Cramer Weighs In On Ford's Stock: 'I Don't Think It's Done Going Up'

Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. 

Coinbase has a 52-week high of $429.54 and a 52-week low of $208.00.

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