Three Major Crypto Stocks to Watch This Week

Crypto investors are bracing for a busy week as three key companies share their second quarter financial results. Robinhood kicks things off on Wednesday, July 29. Coinbase and MicroStrategy follow with their reports after the market closes on Thursday, July 30. These updates are crucial as they show how these firms performed during a rough period for the digital asset sector.

Robinhood arrives at this report following a rough first quarter and a recent round of staff cuts. While their crypto transaction revenue has struggled, analysts are paying close attention to their new chain and future growth prospects. Despite a dip in July, the stock still managed to gain ground during the second quarter. Wall Street firms like Goldman Sachs and Morgan Stanley have recently adjusted their price targets to reflect a more optimistic outlook.

Coinbase enters the week with a wide gap in analyst expectations. The exchange previously faced a net loss and significant workforce reductions, leading to a split in how experts view the stock. Some remain confident with buy ratings, while others warn of potential downsides. All eyes will be on the company revenue from its subscription and services arm to see if their business model is holding up.

MicroStrategy has already tipped its hand regarding its recent performance. The company disclosed an $8.32 billion loss on its digital assets for the quarter and confirmed recent Bitcoin sales. Because the stock tends to swing more aggressively than Bitcoin itself, investors are watching for signs of how the company intends to manage its massive holdings moving forward. Investors should look beyond the headline numbers this week, as the forward guidance provided by these firms will likely dictate market sentiment heading into August.