The Crypto Headwind
Speaking in his weekly market commentary, Eisman underscored the renewed “decline” in crypto prices as a major factor hurting platforms like Robinhood and Coinbase Global Inc. (NASDAQ:COIN).
He noted that a “not insignificant portion” of Robinhood’s customers invest in crypto, and this slump is directly impacting its performance. The company recently missed on earnings, revenue, and net new assets – all critical metrics.
Eisman bluntly stated, “I doubt Robinhood will go up until at least crypto stabilizes.”
Valuation Disparity
A key point of contention for Eisman is Robinhood’s valuation compared to its established competitors.
This stark disparity means Robinhood operates with little room for missteps. “With such a disparity in multiples,” Eisman warned, “there is no margin for error.”
Coinbase Faces Similar Woes
The sentiment extended to Coinbase, another major player heavily tied to crypto performance. Eisman noted that Coinbase’s revenue was down 22%, and it too missed earnings per share.
He drew a direct parallel, asserting that “as long as crypto prices keep going down, so will the stock price of Coinbase,” which has already seen a significant year-to-date decline.
Market Implications
Eisman’s commentary suggests a cautious outlook for companies whose fortunes are closely linked to retail speculation and the highly cyclical crypto market.
BTC Plunges Over 45% From Its Record
Bitcoin (CRYPTO: BTC) was down 3.14% over the last 24 hours at $68,607.43 per coin, which was 45.65% lower than its record high of $126,198.07 per coin on Oct. 7, 2025.
Shares of HOOD, on the other hand, have fallen by 34.06% year-to-date, down 33.95% over the last six months, but up 25.69% over the year. Similarly, COIN was 30.53% lower YTD, 48.77% in sox-months, and 37.91% over the year.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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