Coinbase’s Steep Drop Might Make It Interesting, But It Hasn’t Made It Cheap
Coinbase has tumbled in a big way in the past month – dropping alongside US stocks and crypto. That nearly 50% plunge might make this crypto exchange look like a tempting stock buy, but don’t assume it’s a bargain just yet. Some stock slips mark a real buying opportunity, but for the rest, it’s just a lower price tag. I’ve run through this company’s numbers and built a model you can use to test various scenarios. So let’s dive in.
Finimize analyst Russell Burns spent over 25 years in the financial services sector – at global investment banks in London and Tokyo, a Japanese hedge fund, and a special situations advisory company. Russell uses bottom-up and top-down fundamental analysis to identify investment opportunities, and technical analysis to help with market timing.
