coin base COIN The stock fell a whopping 87.04% to $35.00 from $268.15 on Dec. 21, 2021 — the lowest price level in the company’s history went public last year.

While tech stocks have suffered losses in 2022, Coinbase remains one of the few public companies focused on cryptocurrencies. Belong to the others block inc Q (formerly square), scientific core CORZ and Riot Blockchain REVOLT.

Even if COIN is in decline according to Benzinga Pro, Invest Ark Chief Investment Officer and Portfolio Manager Cathie Wood bought another 297,000 shares of Coinbase Stock last week for a total cost of $11.9 million.

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Currently, Wood’s mutual fund owns more than 6 million shares of Coinbase worth $246.7 million.

Coinbase has started removing job vacancies for new candidates in June and imposed a hiring freeze.

Then in July, as the crypto bear market continued to dominate the sector, Coinbase laid off 1,100 employees, or 18% of its workforce.

At that time CEO of Coinbase Brian Armstrong explained in a company post that the company needs to be prepared for the worst due to the rapidly changing economic landscape and the prospect of a recession.

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Though the price may have dropped, Coinbase is still positive about the future and last week shared images of technologies like the vehicle, elevators, and phones on Twitter.

“For every technological game changer, there are millions of doubters. Shut down the noise and keep building,” the company tweeted.

Core Scientific, a publicly traded bitcoin mining company, has also seen its share price fall in 2022.

CORZ, the company’s stock, opened the year at $10.06.

The stock fell 97% through December 1, 2022, when it traded at $0.22.

The company filed for Chapter 11 bankruptcy protection early Wednesday morning.

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