Is Coinbase Stock A Buy Right Now As Bitcoin Pulls Back?
As the popularity of cryptocurrencies — especially Bitcoin and Ethereum — surges, Coinbase (COIN) $Coinbase (COIN.US)$ is at the forefront of the cryptocurrency industry. After the company's hyped IPO, is Coinbase stock a buy or sell in the current stock market weakness?
Coinbase Stock IPO
The crypto giant launched its direct listing on the Nasdaq on April 14, pricing at 250 a share. Coinbase stock shot up nearly 72% to 429.54 before closing its first day of trading at 328.28, up 31.3%, for a valuation of $87.3 billion.
The crypto giant launched its direct listing on the Nasdaq on April 14, pricing at 250 a share. Coinbase stock shot up nearly 72% to 429.54 before closing its first day of trading at 328.28, up 31.3%, for a valuation of $87.3 billion.
Analysts expect the Coinbase IPO to give the cryptocurrency market increased validation.
Is Coinbase Stock A Buy Right Now?![]()
Coinbase slid over 2% Monday. The price of Bitcoin dropped to $47,600 Monday, according to Coindesk. Bitcoin hit a record high on Nov. 10 at $68,990.
Coinbase slid over 2% Monday. The price of Bitcoin dropped to $47,600 Monday, according to Coindesk. Bitcoin hit a record high on Nov. 10 at $68,990.
For now, the stock is no longer a buy after its sharp losses in recent weeks. Wait for the stock to form a new base before purchasing shares.
Part of the content is taken from Investor's Business Daily.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Evelynne : I feel that even with the downturn in Btc trading volume has been tremendous which benefits Coin. 4th qtr will be huge.
Doug Macduff : can someone tell me where the A.I. bot is located here so it can help me pick stocks?
102496198 Evelynne : Ok
Susan Bertolino OP Evelynne : Waiting for the good news~