COIN - 2 Completely Under-the-Radar Reasons to Buy Coinbase Stock Like There's No Tomorrow
2024-04-21 05:27:00 ET
Ever since it went public almost exactly three years ago, Coinbase Global (NASDAQ: COIN) has been one of the most talked about, most analyzed, and most polarizing crypto stocks. On the one hand, its price is up 209% over the past 12 months, and more than 300% over the past 24 months. On the other, naysayers assert that the stock is overvalued.
Fair enough. By some metrics, Coinbase does appear to be richly valued at this point. But there are two under-the-radar reasons why you should still be thinking about buying Coinbase stock like there's no tomorrow.
The big game-changer for Coinbase is that it finally seems to be figuring out how to make money in all market conditions. That will help to address a major complaint with Coinbase -- that it's too dependent on the vagaries of the crypto market. When crypto prices are rising, Coinbase will profit from trading fees. But what happens when the market goes south, as it did in 2022? Retail investors disappear, transaction revenue dries up, and Coinbase faces a lot of difficult questions from Wall Street analysts.
For further details see:
2 Completely Under-the-Radar Reasons to Buy Coinbase Stock Like There's No Tomorrow