Coinbase Global Stock Forecast: COIN skyrockets on Friday after returning to profitability

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• Coinbase traded up as much as 13% on Friday following earnings.
• Q4 2023 gave Coinbase its first profitable quarter in nearly two years.
• Coinbase earned $1.04 per share on a GAAP basis in Q4.
• Q1 2024 received an upward revision in expected revenue from management.

Coinbase Global (COIN) stock soared as much as 13% on Friday following the market’s broad recognition of its fourth-quarter earnings success before closing up 8.8% at $180.29. The US crypto platform is sort of a “last man standing” after FTX and Binance were both leveled in the past 18 months by legal charges.