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Is Coinbase Global a Buy?

TheMotleyFool

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Coinbase Global (NASDAQ: COIN), one of the largest cryptocurrency trading platforms in the world, went public through a direct listing last April with a reference price of $250 per share. The stock started trading at $381, hit its all-time high of $429.54 that day, and closed at $328.28.

The bulls initially loved Coinbase because cryptocurrencies were on fire. On the day that Coinbase went public, a single Bitcoin (CRYPTO: BTC) cost $63,110, and an Ether (CRYPTO: ETH) token was worth $2,435. But today Bitcoin trades at about $39,000, and Ether is at about $2,600 -- well below its all-time high of $4,891.70 last November.

Image source: Getty Images.

Source Fool.com

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