Is Coinbase Stock a Buy Or Sell?
The decision to buy Coinbase stock is a personal one and should be based on your investing goals and personal circumstances. Past performance is no guarantee of future returns, and you should never invest money that you cannot afford to lose. Coinbase stock has recently experienced an uptrend and is now one of the hottest cryptocurrency investments on the market.
Coinbase Global stock
Before deciding whether Coinbase Global Inc stock is a buy or sell, investors should consider a few important factors. First of all, it’s important to understand the company. Coinbase is a software company that allows investors to buy and sell crypto assets. The company is based in the US and has a trailing twelve-month revenue of around $5 billion. To purchase Coinbase Global stock, investors need to sign up with the site, confirm their payment details, fund their accounts, and take advantage of any signup bonuses. After that, they can buy and sell Coinbase Global stock. Moreover, they can follow the COIN stock’s performance over time.
Coinbase Global was founded with the goal of making it easy for anyone to purchase Bitcoin. Today, it lists more than 100 million verified individual users. It employs over 5,000 people and serves clients in more than 100 countries. It also offers more than 200 assets for custody and trading.
Investing in COIN stock may seem like a risky proposition, but it’s not as bad as it seems. After all, Wall Street consensus estimates predict a 74% earnings decline by 2022. The upside to this stock’s growth potential is immense, and the company’s management is committed to driving strong returns for its shareholders.
Its growth prospects
Coinbase stock has fallen along with the cryptocurrency market, and some Wall Street analysts have their price targets as low as $42. The stock has lost more than 71% so far this year, and could continue to fall if the company does not meet expectations. Its chief executive officer, Craig Armstrong, has warned that the company is facing shrinking primary market revenue. In addition, he has announced that 18 percent of the company’s full-time employees will be laid off by June 2022.
Coinbase shares retreated 4.85% on Thursday, despite news that Coinbase would start a beta program to allow Facebook users to send and receive money overseas. The company previously forecasted profitability by 2021, but fell short of analyst expectations. With cryptocurrency prices dropping sharply, Coinbase users were turning away from the platform. Nevertheless, COIN stock prices remain 60% higher than its low in June, highlighting the positive sentiment that accompanied the announcement of a partnership with BlackRock.
Its focus on new product development
With the growing popularity of cryptocurrencies, there is a growing need for cryptocurrency exchanges. While Coin stock has an advantage of being a first mover in the space, it faces a highly competitive landscape. According to Forbes Advisor, there will be 500 crypto exchanges in operation by October 2022. The positives of Coin stock are its strong brand equity and a focus on new product development. But there are also negatives to consider.