Coinbase shares plunge almost 80% from November high, amid selloffs of crypto stocks and funds

Great Lakes Dredge & Dock Corp

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Industrials : Construction & Engineering | Small Cap Blend

Company profile

Great Lakes Dredge & Dock Corporation is a provider of dredging services. The Company provides dredging services in the East and Gulf Coasts of the United States and around the world. Its dredging generally involves the enhancement or preservation of the navigability of waterways or the protection of shorelines through the removal or replenishment of soil, sand or rock. Domestically, its work generally is performed in coastal waterways and deep-water ports. Its United States dredging market consists of four primary types of work: capital, coastal protection, maintenance and rivers and lakes. It operates three principal types of dredging equipment: hopper dredges, hydraulic dredges and mechanical dredges. Its domestic dredging fleet is positioned on the East and Gulf Coasts, with a smaller number of vessels positioned on the West Coast, and with many of the rivers and lakes dredges on inland rivers and lakes.

Coinbase shares plunge almost 80% from November high, amid selloffs of crypto stocks and funds

4:21 pm ET May 9, 2022 (MarketWatch) Print

By Frances Yue

Shares of crypto-related companies and funds ended sharply lower Monday, with Coinbase's shares finishing at the lowest level in history, as both bitcoin and major U.S. stock indexes finished at multi-month lows.

Shares of Coinbase Global Inc. (COIN) plunged 19.5% to end at $83.51 Monday, while booking the worst single-day decline in history, according to Dow Jones market data. The crypto exchange's shares fell more than 77% from the all-time high of $368.90 set in November, when bitcoin also hit a record high, according to FactSet data.

Read:Bitcoin falls towards $30,000. Investors highlight support at $28,800, eye the stock market for further downside

For other crypto-related companies, shares of Michael Saylor's MicroStrategy Inc. (MSTR) lost 25.6% to end at $219.05.

Mining company Riot Blockchain Inc. (RIOT) shares closed 19.2% lower at $7.67. Shares of Marathon Digital Holdings Inc. (MARA) lost 19.2% to $12.08. Another miner, Ebang International Holdings Inc. (EBON) lost 6.1% to end at $0.81.

Overstock.com Inc. (OSTK)'s shares were down 4% to $33.54.

Shares of Block Inc. (SQ) formally known as Square, tanked 12.8% to $83.89. TeslaInc. (TSLA)'s shares lost 9.7% to $787.11.

PayPal Holdings Inc. (PYPL) declined 2.6% to $79.53. Nvidia Corp. (NVDA) lost 9.2% to $169.50.

Advanced Micro Devices Inc. (AMD) dropped 9.4% to $86.36 at Thursday close.

Among crypto funds, ProShares Bitcoin Strategy ETF (BITO) went down 14% to $19.23 Thursday, while Valkyrie Bitcoin Strategy ETF (BTF) was down 14% to $11.93. VanEck Bitcoin Strategy ETF (XBTF) 14% to $30.17.

Grayscale Bitcoin Trust (GBTC) plunged 17% to $20.65.

-Frances Yue

(END) Dow Jones Newswires

May 09, 2022 16:21 ET (20:21 GMT)