Coinbase, one of the most popular cryptocurrency exchanges, has been in the news a lot lately. The company went public on April 14th and its stock has been on a roller coaster ride since then. So, is Coinbase a good stock buy?
The short answer is yes. Coinbase is a good stock buy because it is a well-established company with a solid track record, strong financials, and huge growth potential.
Coinbase was founded in 2012 and is headquartered in San Francisco. The company is one of the most well-known and respected names in the cryptocurrency industry.
Coinbase allows users to buy, sell, and store cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and more.
Coinbase has over 35 million users and processes over $200 billion in transactions per year. The company is profitable and generated over $1 billion in revenue in 2020.
Coinbase went public via a direct listing on the NAsdaq on April 14th. The stock opened at $381 per share and quickly surged to an all-time high of $429 per share.
However, the stock has since pulled back to around $360 per share.
Despite the recent pullback, Coinbase remains a good stock buy because of its strong fundamentals and huge growth potential. The company is well-positioned to capitalize on the growing global demand for cryptocurrencies.