Bernstein: Coinbase, Robinhood and Figure's first-quarter earnings may hit bottom

On March 30, Bernstein believed that the first-quarter earnings reports of Coinbase, Robinhood and Figure may hit bottom due to the fact that cryptocurrency stocks are currently trading at a large discount. Analysts at Bernstein said cryptocurrency stocks are currently trading at a sharp discount of about 60% from recent peaks and could reach a bottom before weak first-quarter earnings are announced. The company maintained its "outperform" ratings on Coinbase, Robinhood and Figure, but lowered its price target.