Where Will Coinbase Global Stock Be in 1 Year?
Coinbase's (NASDAQ: COIN) stock opened at $381 a share upon its direct listing on April 14, 2021. But today, this volatile stock trades in the low $40s. The leading cryptocurrency exchange lost its luster as crypto prices plunged and rising interest rates drove investors away from speculative growth stocks.
Coinbase CEO Brian Armstrong's dire warning of a new "crypto winter" last June suggested the bears were right, while the failures of several high-profile tokens and exchanges (including FTX) tarnished the entire sector and attracted a lot of unwanted attention from government regulators. But could Coinbase's stock bounce back over the next 12 months? Let's review its recent slowdown, near-term challenges, and valuations to decide.
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Source Fool.com
