Coinbase: buy or bye?
Franklin Templeton has just jumped cryptocurrency bandwagon as it announces it entry into the spot bitcoin ETF race. The asset manager with over a trillion dollars in assets under custody has just filed an application with the SEC to launch a spot bitcoin ETF, joining the ranks of Blackrock, ARK Invest and VanEck.
Hopefully, the latest entry by the heavyweight will be a vote of confidence for the cryptocurrency market and a respite for $Coinbase Global, Inc.(COIN)$
I believe that cryptocurrencies have a place in the global economy by virtue of its speed of transactions across international boundaries, even though they may have to be regulated to weed out the bad actors and encourage broader adoption.
Hence, although Coinbase may be facing significant headwinds with the legal lawsuits overhanging its stock, hopefully the tide will turn when cryptocurrency market sentiments return with the first spot bitcoin ETF approval by SEC.
Coinbase has made a strong comeback since the beginning of this year, and I'm hopeful that the momentum will continue.
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There should be no PE ratio for this company. It's trailing twelve months produced overall negative net earnings. Yahoo finance showing a PE ratio of 4 is misleading the retail investor.
Shorts is Major Trouble. Coin holding over $84 but could easily close over $90 plus.
Theoretically COIN must have a good quarter considering the performance of crypto doesn’t matter as much as their volume
COIN remains heavily shorted. It would be great if COIN became the next meme stock to drive a major sustained short squeeze!
It's super hard for COIN to get through either Support or Resistance. It's very, very delicate with all the news around BTC & the company.
This stock has seen poor sales growth.
There is no clear indication that the downward move is coming to an end.
COIN is now open in Canada. Potential of 40 million customers. No wonder COIN is green.
Why is bitcoin jumping on CPI numbers. Not helping the cause of buying COIN cheap.