syamfx2020
Recruit
- Messages
- 0
Coinbase (NASDAQ: COIN), is one of the world’s most popular cryptocurrency trading platforms. The company Founded in 2012, Coinbase has maintained its stronghold on the crypto market. The US-based crypto platform enables users to create their own cryptocurrency wallets and start buying or selling cryptocurrency by connecting with their bank accounts.
$COIN launched its initial public offering through a direct listing in April 2021. Shares of Coinbase is down more than 60% since its IPO launched last year. On Monday, the stock closed at $161, slightly above the all-time low of $155.95.
Recently, Coinbase’s chief executive says that the crypto exchange platform doesn’t have plans to ban all of its Russian users. "We are not preemptively banning all Russians from using Coinbase," Armstrong tweeted. "We believe everyone deserves access to basic financial services unless the law says otherwise."
Coinbase Q4 earnings review
Coinbase announced the fourth quarter of earnings on February 24. Following the earnings in the fourth quarter of the company announcement, shares slipped during after-hours trading despite the company reported better-than-expected financial results. During the last quarter, the monthly transaction users also increased from 7.4 million in the third quarter to 11.4 million. Meanwhile, the company expects Q1 of 2022 to slow down, citing decreased crypto asset volatility.
$COIN: Is it time to buy below $160 or wait?
The daily chart shows that the $COIN stock price has been in a strong sell-off in the past few months and overall movement remains bearish. Nevertheless, buying it here makes sense especially if the intention is to hold it for long-term because we cannot rule out a situation where the stock will eventually bounce back to above $250.
Read more here - https://gulfbrokers.com/en/is-coinbasecoin-a-good-long-term-buy
$COIN launched its initial public offering through a direct listing in April 2021. Shares of Coinbase is down more than 60% since its IPO launched last year. On Monday, the stock closed at $161, slightly above the all-time low of $155.95.
Recently, Coinbase’s chief executive says that the crypto exchange platform doesn’t have plans to ban all of its Russian users. "We are not preemptively banning all Russians from using Coinbase," Armstrong tweeted. "We believe everyone deserves access to basic financial services unless the law says otherwise."
Coinbase Q4 earnings review
Coinbase announced the fourth quarter of earnings on February 24. Following the earnings in the fourth quarter of the company announcement, shares slipped during after-hours trading despite the company reported better-than-expected financial results. During the last quarter, the monthly transaction users also increased from 7.4 million in the third quarter to 11.4 million. Meanwhile, the company expects Q1 of 2022 to slow down, citing decreased crypto asset volatility.
- Earnings per share (EPS) $ 3.32 vs. $ 1.85 expected
- Revenue $2.5 billion vs. 1.9 billion expected
$COIN: Is it time to buy below $160 or wait?
The daily chart shows that the $COIN stock price has been in a strong sell-off in the past few months and overall movement remains bearish. Nevertheless, buying it here makes sense especially if the intention is to hold it for long-term because we cannot rule out a situation where the stock will eventually bounce back to above $250.
Read more here - https://gulfbrokers.com/en/is-coinbasecoin-a-good-long-term-buy