Is COIN stock a buy now?
$Coinbase Global, Inc.(COIN)$ It’s definitely a longer term investment. I’m holding even though I’m down 16%. This is how investing goes sometimes. Risk/Reward.
Coinbase reported a sixth consecutive quarter of losses as regulatory risks and lower trading volumes continue to weigh on the company. The biggest cryptocurrency exchange in the U.S. posted a loss of $97 million for the second quarter in 2023, or a loss of 42 cents a share, on revenue of $708 million.
But because of global expansions and other key developments things are slowly changing now. Investors have also ignored the recent bad results and focused more on the guidance given by the management for the upcoming quarters.
The company has painted a rosy picture in the recent results, but that will not last long if the numbers do not turn up in their favor in upcoming results. COIN stock can prove to be a great investment at the current levels if an investor is positive about the cryptocurrency future, especially Bitcoin but does not believe in it as an asset class.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
