Coinbase Global, Inc.

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Coinbase Global, Inc. stock analysis COIN overview
Bullish +73

Stocks making the biggest moves premarket: AstraZeneca, Unity Software, Coinbase & more

🔬 AstraZeneca's stock rose 3% after trials showed its drug tozorakimab reduces COPD flare-ups.

✈️ Tripadvisor gained 3% following a Buy rating upgrade from Bank of America due to activist engagement.

🏗️ Argan rallied over 10.5% on fourth-quarter earnings that beat analyst expectations for both revenue and EPS.

💻 Unity Software surged more than 11% after issuing preliminary Q1 EBITDA guidance significantly higher than prior estimates.

📺 Newsmax shares jumped 5% as its Q4 revenue and full-year sales guidance surpassed consensus forecasts.

📉 Crypto stocks dropped alongside Bitcoin, which fell another 3%, impacting companies like Coinbase, Robinhood, and Strategy.

💾 Memory sector stocks declined, with Micron falling 2% following a significant recent drop in session value.

⛽ Energy stocks advanced as oil prices rose, leading gainers like EOG Resources, Phillips 66, and Diamond Energy.

Bullish Signals
  • Coinbase shares rose over 3% premarket following the announcement of preliminary first-quarter adjusted EBITDA between $130 million to $135 million, exceeding previous guidance of $105 million to $110 million.
  • Astrazeneca's experimental drug tozorakimab showed meaningful reduction in flare-ups for chronic obstructive pulmonary disease cases during late-stage trials.
  • Argan reported fourth-quarter earnings of $3.47 and revenue of $262.1 million, both exceeding analyst forecasts of $1.98 per share and $255.3 million in revenue respectively.
  • Unity Software's platform for game developers saw shares surge more than 11% after raising full-year guidance to $105 million to $110 million from previous estimates of $105 million to $110 million.
  • Newsmax reported fourth-quarter revenue of $52.2 million and raised full-year sales guidance to $212 million to $216 million, surpassing the FactSet consensus estimate of $206.1 million.
Risk Factors
  • Coinbase fell over 3% as part of a broader decline in crypto stocks, which lost significant ground following another 3% drop in Bitcoin prices.
  • Cryptocurrency exposure companies broadly suffered a downturn, with Strategy falling more than 2%, reflecting market weakness in the digital asset sector.
  • Crypto-related platforms like Robinhood and Coinbase experienced declines of over 2.5%, indicating investor sensitivity to broader crypto market volatility.
  • The cryptocurrency sector faces continued downside pressure as Bitcoin prices continue their multi-day decline, potentially dragging down correlated equities.
Full Analysis
Stocks were showing significant premarket volatility as investors reacted to a mix of positive earnings reports and negative sentiment in key sectors like crypto and memory chips. AstraZeneca led the gainers list with a 3% rise, following clinical trial data indicating its experimental drug tozorakimab meaningfully reduced flare-ups in chronic obstructive pulmonary disease, with full results set for an upcoming medical meeting. Similarly, Tripadvisor climbed 3% after Bank of America upgraded its rating from neutral to buy, citing accelerating activist engagement and strategic options, while Argan surged over 10.5% after fourth-quarter earnings of $3.47 per share beat analyst expectations on revenue that also exceeded forecasts at $262.1 million versus the $255.3 million consensus. In other notable movers, Unity Software's shares jumped more than 11% following a preliminary first-quarter adjusted EBITDA revision between $130 million and $135 million, which surpassed its prior guidance of $105 million to $110 million. Conservative cable network Newsmax also rose 5% after posting quarterly revenue of $52.2 million that exceeded the $44.0 million FactSet estimate, while raising its full-year sales guidance to between $212 million and $216 million against a $206.1 million expectation. Conversely, the cryptocurrency sector faced headwinds as Bitcoin prices fell another 3% on Friday, extending its two-day decline to over 6%, which dragged down related stocks including Coinbase, which fell more than 3%, Robinhood down over 2.5%, and Strategy down more than 2%. The broader market sentiment was further mixed by declines in memory sector stocks despite Wall Street interest for the start of 2026 fading. Micron dropped 2%, continuing a sharp downturn after closing Thursday down 22% over six trading sessions, while Sandisk fell over 3% and Western Digital and Lam Research declined 2.3% and 1.5%, respectively. On the energy side, oil prices rose again on Friday, driving up names like EOG Resources, Phillips 66, Diamond Energy, and Devon Energy by more than 1%, allowing them to lead the S&P 500's list of gainers for the session. The reporting was contributed by CNBC's Sarah Min and Michelle Fox, noting that the data provided is a real-time snapshot with at least a 15-minute delay.