Options Market Statistics: Coinbase Shares Soar to Two-Year Peak as Bitcoin Surges Past $60,000 Mark

After a 26% drop in January, Coinbase stock has made an extraordinary comeback this month. Since the start of February 2024, the stock price has been up 55%. This also translates into a YTD surge of 14%. In this article, we will analyze the stock of the biggest crypto exchange in the US from the perspective of short and long-term timeframes.

The primary reason behind the bullish price action of Coinbase shares is the ongoing uptrend in cryptocurrencies. The rally comes after a brutal bear market and regulatory crackdown against the crypto companies in the last two years.

In fact, the legal battle between the SEC and Coinbase still continues, and the outcome may impact the stock price in the coming months. However, these concerns have taken a back seat amid the successful launch of the spot Bitcoin ETFs. The latest data reveal that these ETFs' collective daily trading volume has hit record highs with massive institutional inflows.

Beyond Meat reported a big fourth-quarter loss late Tuesday. Revenue fell less than expected, though the fake-meat maker guided low on sales. Still, BYND stock soared Wednesday after the company announced plans to cut operating costs and other "right-sizing" moves. But shares closed well off highs.

AMC reported fourth-quarter profit that missed analysts' estimates — underscoring the company's shaky finances since the pandemic. Earnings before interest, taxes, depreciation and amortization came to $42.5 million, missing the $46.7 million analysts were forecasting.

Shares of AMC, based in Leawood, Kansas, were down 9.2% to $4.53 in late trading.

Higher interest payments increased the company's cash burn in the period, Bloomberg Intelligence analyst Geetha Ranganathan wrote after the results came out.

"This dampens an already dim 2024 outlook" she said, adding the company might have to issue more shares to raise money.