Southern 2x Long Coinbase ETF Falls Nearly 8% as Q3 Core Business Shrinks and Morgan Stanley Downgrades Coinbase to Underweight

Stock News10:40

Southern 2x Long Coinbase (07711) dropped nearly 8%, falling 7.84% to HK$12.93 as of press time, with a turnover of HK$534,700.

On the news front, according to Coinbase's disclosed third-quarter report, the company's total revenue was US$1.216 billion, down 35% year-over-year (compared to US$1.87 billion in the same period of 2025), with transaction-related revenue plunging 44% year-over-year to US$590 million, and individual investor spot trading volume declining 59% year-over-year; operating profit for the quarter was only US$61.7 million, far below US$481 million in the same period last year.

Additionally, CEO Brian Armstrong, co-founder Fred Ehrsam, and President Emilie Choi have recently established stock sale plans under Rule 10b5-1, involving approximately 13.6 million company shares.

On November 3, Morgan Stanley analyst Michael Cyprys downgraded Coinbase Global, Inc. (COIN.US) from "Equal Weight" to "Underweight," slashing the target price from US$258 to US$120, a reduction of approximately 53.49%. Coinbase's third-quarter revenue was US$1.22 billion, missing Morgan Stanley's estimate by 6%. As a result, Morgan Stanley cut its revenue forecasts for Coinbase in 2027 and 2028 by 28% and 18%, respectively.

It is worth noting that this downgrade marks a repricing by a top Wall Street investment bank of the growth narrative for a leading exchange.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/1116982967?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2026-11-03 10:40","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"1116982967","market":"sg","top_or_hot":-1,"title":"Southern 2x Long Coinbase ETF Falls Nearly 8% as Q3 Core Business Shrinks and Morgan Stanley Downgrades Coinbase to Underweight","media":"Stock News","content":"<p>Southern 2x Long Coinbase (07711) dropped nearly 8%, falling 7.84% to HK$12.93 as of press time, with a turnover of HK$534,700.<br><br>On the news front, according to Coinbase's disclosed third-quarter report, the company's total revenue was US$1.216 billion, down 35% year-over-year (compared to US$1.87 billion in the same period of 2025), with transaction-related revenue plunging 44% year-over-year to US$590 million, and individual investor spot trading volume declining 59% year-over-year; operating profit for the quarter was only US$61.7 million, far below US$481 million in the same period last year.<br><br>Additionally, CEO Brian Armstrong, co-founder Fred Ehrsam, and President Emilie Choi have recently established stock sale plans under Rule 10b5-1, involving approximately 13.6 million company shares.<br><br>On November 3, Morgan Stanley analyst Michael Cyprys downgraded <b>Coinbase Global, Inc.</b> (<b>COIN.US</b>) from \"Equal Weight\" to \"Underweight,\" slashing the target price from US$258 to US$120, a reduction of approximately 53.49%. Coinbase's third-quarter revenue was US$1.22 billion, missing Morgan Stanley's estimate by 6%. As a result, Morgan Stanley cut its revenue forecasts for Coinbase in 2027 and 2028 by 28% and 18%, respectively.<br><br>It is worth noting that this downgrade marks a repricing by a top Wall Street investment bank of the growth narrative for a leading exchange.</p>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Southern 2x Long Coinbase ETF Falls Nearly 8% as Q3 Core Business Shrinks and Morgan Stanley Downgrades Coinbase to Underweight</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSouthern 2x Long Coinbase ETF Falls Nearly 8% as Q3 Core Business Shrinks and Morgan Stanley Downgrades Coinbase to Underweight\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036600163\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Stock News </p>\n<p class=\"h-time\">2026-11-03 10:40</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>Southern 2x Long Coinbase (07711) dropped nearly 8%, falling 7.84% to HK$12.93 as of press time, with a turnover of HK$534,700.<br><br>On the news front, according to Coinbase's disclosed third-quarter report, the company's total revenue was US$1.216 billion, down 35% year-over-year (compared to US$1.87 billion in the same period of 2025), with transaction-related revenue plunging 44% year-over-year to US$590 million, and individual investor spot trading volume declining 59% year-over-year; operating profit for the quarter was only US$61.7 million, far below US$481 million in the same period last year.<br><br>Additionally, CEO Brian Armstrong, co-founder Fred Ehrsam, and President Emilie Choi have recently established stock sale plans under Rule 10b5-1, involving approximately 13.6 million company shares.<br><br>On November 3, Morgan Stanley analyst Michael Cyprys downgraded <b>Coinbase Global, Inc.</b> (<b>COIN.US</b>) from \"Equal Weight\" to \"Underweight,\" slashing the target price from US$258 to US$120, a reduction of approximately 53.49%. Coinbase's third-quarter revenue was US$1.22 billion, missing Morgan Stanley's estimate by 6%. As a result, Morgan Stanley cut its revenue forecasts for Coinbase in 2027 and 2028 by 28% and 18%, respectively.<br><br>It is worth noting that this downgrade marks a repricing by a top Wall Street investment bank of the growth narrative for a leading exchange.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU2360107671.USD","symbol_name":"BGF FINTECH \"A4\" (USD) INC","start_time":0,"source_url":"","article_id":"1116982967","we_media_id":"1036600163","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1116982967","pubTimestamp":1793673633,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Stock News","introduction":"Global Stock News First-Time Broadcast","home_visible":1,"id":"1036600163","head_image":"https://community-static.tradeup.com/news/b3bf6d02ad1a6e9e7377eebbb162346a"},"summary":"Southern 2x Long Coinbase (07711) dropped nearly 8%, falling 7.84% to HK$12.93 as of press time, with a turnover of HK$534,700.On the news front, according to Coinbase's disclosed third-quarter...","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU2360107671.USD":"BGF FINTECH \"A4\" (USD) INC","COII":"REX COIN Growth& Income ETF","07311":"南方两倍做空Coinbase","BK4554":"元宇宙及AR概念","COIO":"2倍上限加速COIN ETF-Leverage Shares","BLCK":"Corgi Crypto Infrastructure ETF","BKCH":"AdvisorShares Sabretooth ETF","09711":"南方两倍做多Coinbase-U","FINX":"Global X FinTech ETF","BK4585":"ETF&股票定投概念","07711":"南方两倍做多Coinbase","CONI":"2倍做空COIN ETF-GraniteShares","COYY":"GRANITESHARES YIELDBOOST COIN ETF","CONL":"2倍做多COIN ETF-GraniteShares","IBLC":"iShares Blockchain and Tech ETF","LU1861558580.USD":"日兴方舟颠覆性创新基金B","COIA":"ProShares Ultra Coin ETF","LU1861217088.USD":"贝莱德金融科技A2","BK4516":"特朗普概念","CONX":"Direxion Daily COIN Bull 2X ETF","09311":"南方两倍做空Coinbase-U","BK4535":"淡马锡持仓","COIG":"2倍做多COIN ETF- Leverage Shares","LU1861220207.SGD":"Blackrock FinTech A2 SGD-H","CONY":"COIN期权收益策略ETF-YieldMax","ICOI":"Bitwise COIN Option Income Strategy ETF","BK4596":"哈里斯概念","COIN":"Coinbase Global, Inc.","CRPT":"First Trust SkyBridge Crypto Industry and Digital Economy ETF","COIW":"COIN周配息ETF-Roundhill","BK4600":"加密货币概念","BK4588":"碎股","FIAT":"做空COIN期权收益策略ETF-YieldMax","BK4112":"金融交易所和数据","COIX":"Corgi COIN 2x Daily ETF","FDIG":"Fidelity Crypto Industry and Digital Payments ETF","BK4595":"比特币概念","BK4551":"寇图资本持仓","BITQ":"Bitwise Crypto Industry Innovators ETF","LU1861559042.SGD":"日兴方舟颠覆性创新基金B SGD","BK4539":"次新股"},"translate_title":"由于第三季度核心业务萎缩以及摩根士丹利将 Coinbase 评级下调至跑输大盘，Southern 2x Long Coinbase ETF 下跌近 8%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ICOI":1,"COIO":1,"07711":1,"FDIG":1,"09711":1,"COIG":1,"FIAT":1,"CONL":1,"IBLC":1,"07311":1,"CRPT":1,"BKCH":1,"FINX":1,"COIA":1,"CONI":1,"COYY":1,"COIN":1,"COII":1,"COIX":1,"CONY":1,"BITQ":1,"COIW":1,"09311":1,"BLCK":1,"CONX":1},"content_text":"Southern 2x Long Coinbase (07711) dropped nearly 8%, falling 7.84% to HK$12.93 as of press time, with a turnover of HK$534,700.On the news front, according to Coinbase's disclosed third-quarter report, the company's total revenue was US$1.216 billion, down 35% year-over-year (compared to US$1.87 billion in the same period of 2025), with transaction-related revenue plunging 44% year-over-year to US$590 million, and individual investor spot trading volume declining 59% year-over-year; operating profit for the quarter was only US$61.7 million, far below US$481 million in the same period last year.Additionally, CEO Brian Armstrong, co-founder Fred Ehrsam, and President Emilie Choi have recently established stock sale plans under Rule 10b5-1, involving approximately 13.6 million company shares.On November 3, Morgan Stanley analyst Michael Cyprys downgraded Coinbase Global, Inc. (COIN.US) from \"Equal Weight\" to \"Underweight,\" slashing the target price from US$258 to US$120, a reduction of approximately 53.49%. Coinbase's third-quarter revenue was US$1.22 billion, missing Morgan Stanley's estimate by 6%. As a result, Morgan Stanley cut its revenue forecasts for Coinbase in 2027 and 2028 by 28% and 18%, respectively.It is worth noting that this downgrade marks a repricing by a top Wall Street investment bank of the growth narrative for a leading exchange.","kind":"news","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":true,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.52.1","shortVersion":"4.52.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1116982967","isCrawlerRequest":true}