COIN is cracking below every short-term moving average at $181.56, down 4.29% intraday, with a Q3 earnings miss baked into consensus and the Oct. 29 report looming as the defining binary event. The...
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COIN is bleeding. At $181.56, the stock has erased its entire early-October bounce in a single session, printing a 4.29% intraday drop and tagging a low of $181.07 — a hair's breadth from the Bollinger Band lower boundary at $180.41. That's not a healthy pullback; that's distribution. The day range from $192.91 down to $181.07 tells you exactly who was in control: sellers showed up at the open and never let go.
This price action doesn't exist in a vacuum. 24 — that combination of target hike and earnings cut is a classic Wall Street hedge, and the market is correctly reading the subtext. 29 billion estimate, the earnings-miss narrative has genuine momentum behind it heading into Oct. 29. 24 billion in revenue, implying year-over-year contractions of roughly 112% and 27% respectively. That is a fundamental deterioration story, not a minor speed bump.
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