I’m 🐻-ish About COIN🪙 But Cathie Wood Loads

LMSunshine
2023-05-03
🐻 $Coinbase Global, Inc.(COIN)$ stock ended ~7% lower on 5/1 (Mon) in line with losses in the broader cryptocurrency market, as bitcoin (BTC-USD) fell below $29K amid easing of banking fears given JPM’s takeover of $First Republic Bank(FRC)$ Bearish

🐻🐻 Shares of COIN declined as much as 9.9% to their lowest in more than 3 months.

🐻🐻🐻 Shares dropped ~25% from a month ago in the wake of its legal battle against the SEC. However, the stock is still up 49% YTD amid a broader crypto rally. COIN has tumbled 54% over the past 12 months amid turmoil in the cryptocurrency market. But it has rebounded this year, helped by bitcoin’s recovery.

👎 Citi downgraded COIN to Neutral from Buy owing to a "high level" of 🇺🇸 regulatory uncertainty ➡️ "Coinbase is now tasked to advocate for a reputationally damaged industry and pave a sustainable pathway towards regulatory compliance," Citi said.

📰 Cathie Wood, chief executive of Ark Investment Management, bought COIN on Monday for the 1st time in a week & repeated two trades from Friday. Ark funds snagged 168,869 shares of COIN. COIN is the 5th biggest holding in Wood’s flagship Ark Innovation ETF (ARKK).

📰 COIN started a foreign exchange for cryptocurrency derivatives on 5/2 (Tue) & the stock closed at $51.32, 2.35% higher after its Monday’s crash.

⭐️ The 23 analysts offering 12-month price forecasts for COIN have a median🎯 of $65, with a high🎯 of $200 & a low🎯 of $30. The average Wall Street analyst rating is at Hold But COIN is a SELL for me amid the ongoing banking crisis🔥🏦🏦🏦🔥 $Bank of America(BAC)$ Bearish$Western Alliance(WAL)$ Bearish$UBS Group AG(UBS)$ Bearish Any bad🗞🗞🗞 can send investors running🏃‍♀️🏃🏃‍♂️ & the risk to me just isn’t worthed it😅

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Modified in.2023-05-03
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Comments

  • GoodLife99
    2023-05-04
    GoodLife99
    worth of a buy if it's move below or close to 40?
    frens investing in cryptocurrency sharing accumulation is needed for big surge later 2 yes, but for me it's just too long [LOL] & don't understand why they have such confidence [Thinking]
    • GoodLife99ReplyLMSunshine: 
      yes indeed! volatile can earn good money but also being trap too if made the wrong decision what's more if in actual fact catching the falling knife.
      Totally agree for to buy APPL actually
    • LMSunshineReplyGoodLife99: 
      Actually repeated short trades on good companies might earn more in a volatile market rather than buy and hold and wait for market to recover. I also use leveraged ETF bull to do the same. I tried holding SOXL but what happens is that it just goes back down to my previous buy price so i “wasted” the chance to collect my profit by not selling😅
    • GoodLife99ReplyLMSunshine: 
      I see! got it! thanks!
    • LMSunshine: 
      I personally wont buy coz too risky😅 I rather. I rather buy APPL at $140+ then sell at $160+ safe stock can kee averaging down if needed
  • Bons
    2023-05-03
    Bons
    it isn't worth it to me too to bet on $Coinbase Global, Inc.(COIN)$ for now
  • icycrystal
    2023-05-04
    icycrystal
    thanks for sharing
    • LMSunshine: 
      Welcome buddy, thanks for your constant support, appreciate loads💕💕💕
  • Money Sprout
    2023-05-05
    Money Sprout

    Great ariticle, would you like to share it?

  • Yah Gurl Jazzy
    2023-05-05
    Yah Gurl Jazzy
    Great ariticle, would you like to share it?
  • shashageisha
    2023-05-05
    shashageisha
    Great ariticle, would you like to share it?
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