Is Coinbase Stock Ready to Bounce Back?

Motley Fool2021-09-14

Coinbase Global (NASDAQ:COIN) can't seem to catch a break. It went public in April, just as Bitcoin (CRYPTO:BTC) prices were peaking. Now that Bitcoin is on the rise, with many of its more speculative...

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Comments

CL_Wong
2021-09-15
CL_Wong
Yup
yawn88
2021-09-15
yawn88
Come back crypto!
- yawn88:
  Huat huat
andrew123
2021-09-15
andrew123
Yup agree. Crypto slowly trending up
TKCat
2021-09-15
TKCat
Crypto is here to stay
- Pluto891:
  agree
- Hayz:
  Coinbase need to do better before others catch up (Robin hood style)
Ivychai
2021-09-15
Ivychai
Ok
eiileen
2021-09-15
eiileen
Ok

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It went public in April, just as Bitcoin (CRYPTO:BTC) prices were peaking. Now that Bitcoin is on the rise, with many of its more speculative...</p>\n\n<a href=\"https://www.fool.com/investing/2021/09/14/is-coinbase-stock-ready-to-bounce-back/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"COIN","symbol_name":"Coinbase Global, Inc.","start_time":0,"source_url":"https://www.fool.com/investing/2021/09/14/is-coinbase-stock-ready-to-bounce-back/","article_id":"2167955115","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2167955115","pubTimestamp":1631632534,"sourceInfo":{"source_id":"fool_stock","name":"Motley Fool"},"weMediaInfo":null,"summary":"The leading cryptocurrency exchange has had a rough summer even as Bitcoin is rolling.","collect":0,"end_time":0,"defaultTopTitle":"fool.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"COIN":"Coinbase Global, Inc."},"translate_title":"Coinbase的股票准备好反弹了吗？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"COIN":0.9},"content_text":"Coinbase Global (NASDAQ:COIN) can't seem to catch a break. It went public in April, just as Bitcoin (CRYPTO:BTC) prices were peaking. Now that Bitcoin is on the rise, with many of its more speculative crypto peers faring even better, Coinbase is sitting out the rally.\nPiper Sandler analyst Richard Repetto thinks that the stock is ready to bounce back. He calculates an 86% correlation between Coinbase stock and the price of Bitcoin. However, things haven't been playing along that way lately. After a springtime swoon, Bitcoin prices have risen 28% in the third quarter; Coinbase stock has declined by 4%.\nThere are some good reasons for the disconnect (and we'll get to them shortly), but Repetto believes that the sell-off in Coinbase shares is overdone. He's standing by his overweight rating and $335 price target that suggests 38% in upside from Monday's close. It could be time for the crypto bellwether to start acting like one.\nImage source: Getty Images.\nNot-so-stable Coinbase\nIt's been a wild ride for Coinbase investors through just five months of public trading. The stock initially took off after pricing its direct listing at a reference price of $250, trading as high as $429.54 on its first day on the market. It has gone on to give back all of those gains, and by Monday's close, it was trading below its reference price.\nCoinbase initially fared better than the crypto market on days when Bitcoin and other digital currencies tanked. It makes sense, as Coinbase is a trading platform; it profits from the volatility. But the recent role reversal, with Bitcoin climbing and Coinbase staying behind, also makes sense.\nThere have been a couple of speed bumps on the Coinbase superhighway lately. Last month, CNBC broadcast a report about hackers draining Coinbase accounts, with little recourse for the victims. 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Crypto slowly trending up","listText":"Yup agree. Crypto slowly trending up","text":"Yup agree. Crypto slowly trending up","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/882383066","repostId":2167955115,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":882339090,"gmtCreate":1631660839310,"gmtModify":1676530600391,"author":{"id":"3575764061064234","authorId":"3575764061064234","name":"TKCat","avatar":"https://static.tigerbbs.com/99ee288f493a95ddc49f6f7bbeb74457","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3575764061064234","idStr":"3575764061064234"},"htmlText":"Crypto is here to stay","listText":"Crypto is here to stay","text":"Crypto is here to stay","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/882339090","repostId":2167955115,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5870138,"gmtCreate":1631661521870,"gmtModify":1663233889548,"authorId":3581937910767045,"author":{"id":3581937910767045,"idStr":"3581937910767045","authorId":3581937910767045,"name":"Pluto891","avatar":"https://static.tigerbbs.com/c9963f2ef3d3ad2aff28340461d3d6d0","vip":1,"currentWearingBadge":{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"hasAllocated":1,"isWearing":1,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","individualDisplayEnabled":0,"individualDisplaySort":0,"categoryType":1100},"crmLevel":2,"crmLevelSwitch":1,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":882339090,"type":1,"supId":5870074,"prevId":0,"content":"agree","text":"agree","html":"agree"},{"id":5870074,"gmtCreate":1631661315421,"gmtModify":1663233887938,"authorId":3576709204489965,"author":{"id":3576709204489965,"idStr":"3576709204489965","authorId":3576709204489965,"name":"Hayz","avatar":"https://static.tigerbbs.com/d87598e3b13004920f673918b320782e","vip":1,"crmLevel":3,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":882339090,"type":1,"supId":0,"prevId":0,"content":"Coinbase need to do better before others catch up (Robin hood style)","text":"Coinbase need to do better before others catch up (Robin hood style)","html":"Coinbase need to do better before others catch up (Robin hood style)"}],"langContent":"EN"},{"id":882397669,"gmtCreate":1631660702551,"gmtModify":1676530600349,"author":{"id":"3581588132343232","authorId":"3581588132343232","name":"Ivychai","avatar":"https://static.tigerbbs.com/b92c1158d07d2b457cc71462facf5a80","vip":1,"crmLevel":2,"crmLevelSwitch":0,"authorIdStr":"3581588132343232","idStr":"3581588132343232"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/882397669","repostId":2167955115,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":882971299,"gmtCreate":1631658718211,"gmtModify":1676530599695,"author":{"id":"3581853856981923","authorId":"3581853856981923","name":"eiileen","avatar":"https://static.tigerbbs.com/79753946c0327017ff2bcd986354301b","vip":1,"crmLevel":4,"crmLevelSwitch":0,"authorIdStr":"3581853856981923","idStr":"3581853856981923"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/882971299","repostId":2167955115,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":198,"commentSize":16,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2167955115"}