(CNN)Crypto brokerage Coinbase has been hit hard by the meltdown in bitcoin prices this year. The stock has plunged 65% so far in 2022. And the company's latest earnings, due out after the closing bell Tuesday, are likely to be miserable.
Wall Street is forecasting a more than 50% drop in revenue from a year ago and expects that Coinbase will report a loss of about $585 million. The company posted a $1.6 billion profit in the second quarter of 2021.
Still, some investors are hopeful the worst may soon be over. Shares of Coinbase have surged more than 30% in the past five trading days.
The rally is due in part to the recent rebound in crypto prices. Ethereum, for one, has surged more than 8% in the past week. But there is another big reason for Coinbase's comeback.
A partnership with Wall Street giant and iShares owner BlackRock (BLK), which had about $10 trillion in assets under management at the end of last year — before 2022's big drop in stocks and cryptos — may also be helping...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...