Coinbase Reports First Earnings and CorMedix Earnings Meltdown 📈

Coinbase Reports First Earnings and CorMedix Earnings Meltdown

Coinbase  

Coinbase is somehow one of the hottest stocks in the market, even though they just entered the market a month ago with an IPO. It does make some sense when you look at what they do. Coinbase provides a platform to trade multiple cryptocurrencies, and it has claimed the throne as the largest public exchange in the stock market currently.

Many were anticipating Coinbase’s first public earnings report, and it came on Thursday. They reported a profit of $3.05 per share, and revenue went up by $585 million. Along with that, their net profit increased by 4 times as the rise in cryptocurrency prices benefitted them heavily. 94 percent of their revenue came from transaction fees, which Coinbase is known for using. To excite more traders, they announced that they are going to allow Dogecoin trading in the coming weeks.

Coinbase was flat after hours, staying at its closing price of $265.10

CorMedix

CorMedix is the true definition of a volatile biotech company. They are a micro-cap stock with a market cap of $287.463 million, and like many biotech’s, they sit far away from their 52-week high, which was $18.80.

On Thursday, CorMedix reported their earnings after the market closed. They reported a loss of 20 cents per share, which missed the expectation, and they reported $0.09 million in revenue. This might seem small, but this is a micro-cap, and it beat the expectations.

Weird enough, CorMedix stock dropped to $5.25 after hours, down 31.08%.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:

More Posts

Load More
Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Facebook Twitter Youtube Instagram Snapchat Tiktok
learn
products
plan
Who we are
blog

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community.The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results.Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such.Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.