Is Coinbase a Good Buy for 2022?
The capital markets ended 2021 with precipitous sell-offs in high-growth technology stocks. The sell-offs were primarily driven by slowing growth in stay-at-home stocks, investor concerns over inflation, and tax harvesting.
Traditional equities are not the only assets experiencing valuation and price compression. Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) are both down over 30% since reaching peaks in November 2021. Following its initial public offering in April 2021, Coinbase Global (NASDAQ: COIN) benefited from market euphoria and the rising popularity of cryptocurrencies in particular. This was short-lived, and the stock has been on a downward spiral, falling over 20% since December 2021. Let's dig in and see if now is an opportune time to buy Coinbase on the dip.
Image source: Getty Images.
Source Fool.com
