The Looming Denouement

www.investing.com/analysis/the-looming-denouement-200632570

By Tim Knight | Nov 19, 2022 11:43PM ET

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COIN

-0.11%

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HOOD

+1.34%

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Clearly this FTX saga is not over. I’m still amazed that, last week, people bid the FTX token up by about 200%, only to see it erased. Until this thing is $0.00, the SBF saga grinds on.

FTX Chart

And, once the other shoe drops, my view is that these two equities are in even worse trouble than they already are: Coinbase (NASDAQ:COIN) and Robinhood (NASDAQ:HOOD).

Coinbase

COIN (Coinbase) Chart

Robinhood

HOOD (Robinhood) Chart

In the meanwhile, the crypto space seems to have achieved a temporary perfect equilibrium, and it’s like prices have reached a state of absolute zero. Nothing’s moving anymore.

Bitcoin (BTC) Chart

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The Looming Denouement

Coinbase

Robinhood

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