Is Now a Good Time to Buy Coinbase Stock?
Coinbase (NASDAQ: COIN) provides financial infrastructure and technology for the cryptoeconomy. The company primarily serves as a broker through its marketplace on which users can buy and sell crypto assets. Since its IPO in April 2021, Coinbase stock is down 11%, and the stock is down nearly 20% since reporting Q3 earnings in November. These returns are well below the S&P 500's year-to-date return of 25%. Is this an opportunity to buy Coinbase on the dip? Let's dig in and find out.
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Crypto can be an overwhelming and intimidating asset class. When it comes to considering crypto for your portfolio, there are several different tokens to choose from, many of which have unique use cases and applications. With Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) hitting all time highs multiple times in the same year, it's easy for investors to think that it's too late to get involved.
Source Fool.com
