Coinbase Stock Is Up 175% This Year: 3 Reasons I'm Still Buying
With its historic debut on the stock market in 2021, the Coinbase Global (NASDAQ: COIN) initial public offiering (IPO) marked a pivotal moment for the crypto industry. However, the post-IPO journey proved challenging as a crypto bear market took a toll on the company's financials, causing its shares to plummet by more than 90% at one point. As a skeptic myself, I too had doubts about Coinbase's potential for quite some time.
It was around first-quarter 2023 that a shift occurred, prompting me to take a fresh look at Coinbase as a viable investment opportunity. Had you asked me at the beginning of 2023 what my main concerns about the company were, I would have highlighted an unfavorable regulatory environment in the U.S. and continuous lackluster earnings reports.
But since then, Coinbase has proven agile and resilient, renewing my faith in the company's long-term potential. Here are three compelling reasons I believe Coinbase is on track to become a leading choice for investors' portfolios for years to come.
Source Fool.com
Coinbase Global Inc. Stock
Currently there is a rather positive sentiment for Coinbase Global Inc. with 31 Buy predictions and 16 Sell predictions.
On the other hand, the target price of 161 € is below the current price of 223.8 € for Coinbase Global Inc., so the potential is actually -28.06%.
