2024-07-19 13:51:47 ET
Summary
- Coinbase shares rallied after Trump's near-assassination and selection of pro-Bitcoin JD Vance as running mate, hinting at a pro-crypto administration.
- Q1 results showed revenue growth driven by transaction fees and institutional business, but concerns remain about debt and stock-based compensation.
- Uncertainty around the future regulatory environment and organic growth of the crypto industry suggests maintaining a Hold rating on Coinbase shares at around $240 per share.
Coinbase Global, Inc. ( COIN ) shares experienced a rally this week, following the near-assassination of Donald Trump but also his choice of Ohio Senator JD Vance as his running mate....
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Coinbase: Q1 Results Likely Cyclical, Election Poses Uncertainty