Coinbase Down 8% As Trading Volumes Dip
Shares of cryptocurrency exchange Coinbase Global, Inc. (COIN), are down over 8 percent after its third quarter results revealed a sequential drop in performance.
Despite earnings of $1.62 per share surpassing expectations of $1.56 per share and previous third quarter’s level of $0.23, the share price has declined in the backdrop of the sequential decline in business metrics.
Monthly Transacting Users (MTU) was 7.4 million in the third quarter versus 2.1 million in the comparable year-ago quarter, However, MTU was lower than 8.8 million recorded in the second quarter of 2021.
Trading volume for the quarter was $327 billion versus $45 billion in the quarter ended September 2020, but lower than $462 billion seen in the second quarter of 2021.
Net Income increased to $406 million, from $81 million in the quarter ended September 2020, but was way below the $1.6 billion recorded in the second quarter of 2021.
Net Revenue increased to $1.2 billion from $0.29 billion in the year-ago quarter, but was significantly lower than $2.0 billion recording in the second quarter of 2021.
The online platform for buying, selling, transferring, and storing digital currency had its IPO on April 14, 2021 and a stock market debut at $381.00.
Shares of Coinbase Global are currently trading at $328.50, down $28.89 or 8.08 percent from previous close.
US home prices are at a record high
The median price of single-family existing homes rose in nearly all — 99% — of the 183 markets tracked by the National Association of Realtors in the third quarter, with double-digit price increases seen in 78% of the markets.
SiTime Shares Down 3% On Public Offering Price Announcement
Shares of silicon MEMS timings provider SiTime Corp. (SITM) are down 3 percent on Wednesday’s trading after the company announced the pricing of its follow-on public offering of 2 million shares of its stock at $225.00 per share.
The follow-on public offering includes 1 million shares to be sold by MegaChips Corp. and 1 million shares to be issued and sold by SiTime. The gross proceeds of the offering for SiTime are projected around $225.0 million.
Currently at $238.90, the stock has traded between $75.81 and $301.52 during the past 52 weeks.
Why Is RenovoRx Stock Up 67%?
Shares of RenovoRx, Inc. (RNXT) are currently surging nearly 67% on Wednesday morning. RNXT is currently trading at $9.04, up $3.63 or 67.10%, on the Nasdaq.
The biopharmaceutical company on Tuesday announced its novel therapy platform, RenovoTAMPTM, will be highlighted during a presentation by expert panelist, Dr. Ripal Gandhi, at the Miami Cancer Institute’s New Advances in the Management of Pancreatic Cancer CME course.
Gandhi, a Principal Investigator in RenovoRx’s ongoing Phase 3 TIGeR-PaC study, and Professor of Interventional Radiology at the Miami Cancer Institute and Miami Cardiac and Vascular Institute, Florida International University Herbert Wertheim College of Medicine, will describe the results from initial clinical studies of RenovoTAMP used in combination with radiation therapy and its benefits when managing patients with stage 3 locally advanced pancreatic cancer (LAPC).
Mariah Carey's famous Christmas tune is getting a documentary
(CNN)Don’t play with Mariah Carey when it comes to her holiday.
The singer posted a video Monday to tease something coming November 5 and remind us that she rules when it comes to the Christmas holiday.
In it, there are three pumpkins used to spell out “It’s not time.” Carey, dressed in a sparkly red dress and shoes, smashes the pumpkin labeled “not” with a stick resembling a candy cane.
Her hit “All I Want For Christmas is You” begins to play as we see the diva in some of her Christmas scenery finery.
“It’s Time!!!,” a note flashes at the end of the video. “To smash that pumpkin and treat it as pie…cause we still gotta get through Thanksgiving!!!”
Last week, Carey had a funny response after someone tweeted about a note on a jukebox saying her hit holiday song “will be skipped if played before Dec. 1” and only “allowed one time a night” after that date.
After another user tweeted “is this the war on Christmas I’ve heard about?” Carey retweeted using a photo of her dressed for battle in a photo from her “Game of War” video game campaign.
U.S. Covid Casualties On The Downtrend
Amid reports of coronavirus infections in the United States rising again, the Covid casualties graph is showing a downward trend.
The weekly average of Covid deaths in the country fell by by 11 percent within a fortnight, according to the latest data compiled by New York Times.
Tuesday’s death toll – 1,662 – was nearly half of the recent peak of 3,155, recorded on September 23. It takes the national total to 757,409, as per the latest data from Johns Hopkins University.
With 79,829 new cases reported on Tuesday, U.S. total cases increased to 46,694,852.
Minnesota reported the most number of cases – 7,165 – while Ohio reported the most deaths – 215.
46,287 people are currently hospitalized in the U.S., marking a 12 percent decrease within a fortnight.
A total of 37,604,540 people have so far recovered from the disease in the country.
As per the latest data published by the Centers for Disease Control and Prevention, a total of 194,168,611 people in the United States, or 58.5 percent of the population, have been fully vaccinated against the coronavirus. This includes 85.7 percent of people above 65.
224,257,467 people, or 67.5 percent of the population, have received at least one dose.
433,156,393 vaccine doses have been administered so far nationally.
25,368,545 people have so far received booster doses, which accounts for 13.1 percent of the population.