Coinbase Global ( COIN ) shares clocked seven straight sessions of losses on Wednesday, as the stock was 1.4% lower at $207.97. The largest U.S. crypto platform lost over 7% in the preceding six sessions. Overall, the stock has fallen 7.3% so far this year, compared to the near 2% rise in the broader S&P 500 Index ( SP500 ). COIN is down 12% over the past one month. Most recently, Coinbase Global chief executive Brian Armstrong urged lawmakers to protect his crypto exchange's ability to offer reward on stablecoins, as part of his opposition to the Senate Banking Committee's crypto market structure draft bill. “The CLARITY Act threatens COIN’s ability to pay interest on stablecoin deposits, undermining a key future revenue stream,” pointed out a recent Seeking Alpha analysis. Crypto platform rewards are significantly above typical bank deposit rates, with banking groups warning that high-yield crypto tokens could drain deposits and threaten lenders. Coinbase Global has characteristics which have been historically associated with poor future stock performance. COIN has decelerating momentum and is overpriced when compared to other financials stocks, to the point that it gets a Sell rating from Seeking Alpha's Quant rating system. The company received C in the prospect of profitability, while it received F in the momentum factor. Seeking Alpha analysts are positive and see the stock as a Buy. Turing to the Wall Street , 23 analysts have given the stock a Buy or above rating. Eleven analysts gave the stock hold recommendation, while one positioned Strong Sell. More on Coinbase Coinbase: Ride The Everything Expansion Coinbase: Clarity Act Is Bad For Business (Rating Downgrade) Coinbase: Long-Term Thesis Intact Ahead Of Q4 Coinbase's Armstrong lobbies lawmakers to preserve stablecoin rewards - report Banks vs. Crypto battle escalates over token yields
