Stocks stumble to start the week

The market followed up a lackluster Friday performance with modest losses on Monday.

Good Afternoon! 

Hey, everyone. It's Adam from Elite Trade Club. 

Here’s what moved the market today.

Markets 📈

Stocks turned south on Monday following their lackluster performance on Friday. The small-cap Russell 2K was the lone winner among U.S. benchmarks.

  • DJIA [-0.1%]

  • S&P 500 [-0.3%]

  • Nasdaq [-0.1%]

  • Russell 2K [+0.6%]

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Market-Moving News 🔎 

🎉 Profit Party: Coinbase Breaks the Losing Streak

Guess who's back, back again? Coinbase [COIN +16.8%] is back, tell a friend! After a two-year hiatus from the green zone, Coinbase Global has flipped the script, turning a dazzling profit in the crypto casino.

Thanks to a bullish crypto market and some savvy interest income plays, Coinbase is popping champagne with a fourth-quarter profit of $273 million, or a slick $1.04 a share.

That's a heroic leap from last year's $557 million faceplant. Over 2023, Coinbase pocketed a cool $95 million in net profit from a whopping $3.1 billion revenue pot.

💹 To the Moon!
Post-market trading saw Coinbase shares doing the moonwalk, jumping 12% to $185. Sure, it's not quite the $381 debutante ball of 2021, but hey, progress is progress, right? The trading volume ticked up to $154 billion in Q4, showing that the crypto appetite is alive and kicking, folks.

💰 Diversify or Bust
Once almost exclusively a transaction fee junkie, Coinbase is evolving. It's diving deep into custody services, interest-earning assets, and the oh-so-lucrative world of staking. Q4 brought in $375 million from subscriptions and services, a nice jump from the previous year's $283 million.

🪙 Stablecoin Shine
The cherry on top? Stablecoin revenue, baby. It spiked to $172 million, thanks to a sweet deal with Circle's USD Coin, turning those reserves into a golden goose.

📈 Beating the Odds
Coinbase didn't just beat expectations; it left them in the dust with a 51% revenue rocket to $954 million, cruising past the $826 million guesswork. Transaction revenue also got a boost, hitting $529 million thanks to the ever-spinning trading volume wheel.

So, what's the moral of the story? Never count out a comeback, especially in the wild west of crypto. Coinbase is back in the saddle, y'all, and it's riding high!

Top Winners and Losers 🔥

Microcloud Hologram [HOLO] $12.00 (81.5%)
just WILL NOT go away! The tug-of-war between bulls & bears entered its second week today, and the bulls had the upper hand.

Soundhound AI [SOUN] $5.75 (+46.6%)
rallied as positive sentiment stemming from last week’s upbeat NVIDIA [NVDA +0.3%] earnings report continued to boost AI stocks.

Krystal Biotech [KRYS] $157.00 (+41.0%)
swung to a surprise profit and posted stronger than expected earnings and revenues on its Q4 earnings report in today’s premarket.

Intuitive Machines [LUNR] $6.27 (34.6%)
corrected after seeing big gains last week following its successful landing of a lunar rover on the surface of the Moon.

InfoBird [IFBD] $2.76 (26.9%)
pushed back the effectiveness of a previously-announced 1-for-8 reverse stock split scheduled for today to March 4th

Bone Biologics [BBLG] $2.70 (25.0%)
filed an S1 registration statement after Friday’s close for the direct offering of roughly 1.28 million common shares & warrants.

That's it for today! Please, write us back, and let us know what you think of the Closing Bell Roundup. We're always eager to hear feedback from our members!

Thanks for reading. I'll see you at the next open! 

Best Regards,
Adam G.
Elite Trade Club

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