El Cedear – Argentine Certificate of Deposit – of Coinbase flies up to 17.5% in the Buenos Aires stock market after the presentation of the balance in the first quarter. However, this trend is widespread as most stocks have large gains driven by the good day on Wall Street and the rise in the CCL.
In the case of Coinbase, the main cryptocurrency exchange in the United States, reported first-quarter revenue of $773 million, beating analyst estimates of $655 millionaccording to FactSet, and above fourth-quarter revenue of $629 million.
Shopify also climbs for the second day in a row, on this day, up 9.7%. It should be noted that the company announced yesterday that it will cut jobs and that it will sell most of its logistics business. For these hours, the company that will be dedicated exclusively to e-commerce also presented its balance sheet.
In the Buenos Aires stock market, the rises of Vista Energy (+7.3%) and Apple (+5.4%) also stand out. The technology giant reported revenues of US$94.8 billion, which, although this represented a 3% decrease compared to the same period of the previous year, was above market expectations.
In fact, Wall Street’s main indices rose on strong Apple results, which underscored the resilience of corporate earnings. In turn, the indices are boosted by a better-than-expected employment report that eased fears of an imminent economic recession.
This Friday, in addition, the Cedears were driven by the rise in the financial dollar. In that context, the dollar CCL -operated with the GD30 bond in the Price-Time Priority segment -PPT- goes up $12.36 (2.9%) to $433.15.
It is important to remember that Cedears are mirror shares of companies listed abroad. They can be bought in pesos on the local stock market but their price is tied to the dollar Cash with Liquidation.
Source: Ambito
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