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Coinbase stock price falls more than 11% amid broader market rout
UPDATED: May 5, 2022, 12:24PM EDT
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The stock price for the publicly traded crypto exchange Coinbase is down nearly 12% on Thursday amid a broader tumble in US equities.
COIN is currently trading hands at about $114.70 on the Nasdaq exchange, representing a roughly 11.8% decline since Thursday's market open.
US equities have fallen sharply since the open, with the Nasdaq down 4.9% at the time of writing. The Dow Jones Industrial Average and the S&P 500 are down 3.1% and 3.6%, respectively.
Coinbase went public in mid-April of last year via a direct listing.
