Coinbase Global and other beaten-down cryptocurrency stocks ripped higher on Wednesday, only to fall sharply on Thursday. Analysis of the wild ride suggests that "short squeeze" dynamics in a volatile market are at play, and could continue.
Crypto broker Coinbase (ticker: COIN) jumped 12% on Wednesday, only to fall right back down on Thursday, plunging 11%. The stock was flat in early Friday trading as investors got a bit of a breather from the rollercoaster.