COINBASE GLOBAL Sees Stock Markets Rise Despite Debt-Ceiling Concerns
May 23, 2023
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Despite the recent concerns surrounding the potential U.S debt-ceiling crisis, stock markets around the world experienced a positive response, causing many to attribute the response to increased investor confidence. COINBASE GLOBAL ($NASDAQ:COIN) is an online platform for trading digital assets, including cryptocurrency, and its stock has seen tremendous growth in recent times. Its stock has been one of the major contributors to the global stock market surge, as investors in the digital asset space continue to seek its services. With the company’s commitment to providing secure and compliant products, COINBASE GLOBAL has become a leader in the digital asset trading space and is seeing increased demand from customers all around the world.
Price History
Despite ongoing concerns about the US debt ceiling, COINBASE GLOBAL saw its stock rise on Monday. The stock opened at $56.9 and closed at $61.1, an increase of 7.6% from the previous closing price of 56.8. The rise in the stock price was driven by positive investor sentiment, as COINBASE GLOBAL continues to offer a reliable platform for digital currency trading for its customers. This rise in share prices comes as the US government struggles to resolve the issues around its debt ceiling, which could have a major impact on the global economy.
However, it appears that investors are still confident in COINBASE GLOBAL and its products, leading to the significant rise in its stock price. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Coinbase Global. More…
| Total Revenues | Net Income | Net Margin |
| 2.8k | -2.27k | -75.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Coinbase Global. More…
| Operations | Investing | Financing |
| -1.03k | 1.69 | -4.65k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Coinbase Global. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 139.3k | 133.63k | 24.2 |
Key Ratios Snapshot
Some of the financial key ratios for Coinbase Global are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 81.6% | – | -90.4% |
| FCF Margin | ROE | ROA |
| -39.3% | -28.4% | -1.1% |
Analysis
GoodWhale has conducted an analysis of COINBASE GLOBAL‘s wellbeing. Based on our Star Chart, COINBASE GLOBAL is strong in terms of growth, medium in asset, profitability and weak in dividend. We classify COINBASE GLOBAL as a ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. Investors interested in such a company may be looking for a stable rate of returns in the short-term while still having the potential for capital appreciation in the medium-term. Given its intermediate health score of 6/10 with regard to its cashflows and debt, COINBASE GLOBAL might be able to safely ride out any crisis without the risk of bankruptcy. More…
Peers
The competition between Coinbase Global Inc and its competitors is fierce. Each company is trying to get a larger share of the market and to be the leading digital currency exchange. Coinbase Global Inc is the largest digital currency exchange in the world and it has a lot of experience. However, its competitors are also very experienced and they are all trying to get a larger share of the market.
– Riot Blockchain Inc ($NASDAQ:RIOT)
Riot Blockchain Inc. is a cryptocurrency mining company that focuses on Bitcoin mining. The company has a market capitalization of $981.09 million and a return on equity of -17.02%. Riot Blockchain Inc. was founded in 2000 and is headquartered in Castle Rock, Colorado.
– Robinhood Markets Inc ($NASDAQ:HOOD)
Robinhood Markets Inc is a financial services company that offers a commission-free trading platform for stocks, options, and cryptocurrency. The company has a market cap of 9.19B as of 2022 and a Return on Equity of -33.37%. Robinhood was founded in 2013 and is headquartered in Menlo Park, California.
– MicroStrategy Inc ($NASDAQ:MSTR)
MicroStrategy Inc is a publicly traded business intelligence company. The company has a market cap of 2.66B as of 2022 and a ROE of -77.69%. MicroStrategy offers a comprehensive suite of products that enable organizations to analyze internal and external data to make better informed decisions. The company’s products are used by organizations of all sizes, in a variety of industries, including banking, healthcare, insurance, retail, telecommunications, and many others.
Summary
Coinbase Global is a prominent player in the investment market, offering an array of services to investors. Currently, the company is seeing an upward trend in its stock prices amidst the global market troubles stemming from the U.S. debt ceiling crisis. Analysts suggest that investors should consider Coinbase Global as a potential source of investment, as its strong fundamentals indicate that it is well-positioned to take advantage of the current market conditions. Coinbase Global offers a diversified suite of products, including stocks, ETFs, and options, as well as a secure online trading platform.
The company is also considered to be relatively low risk due to its solid financial position and experienced team of professionals. Investors should take this into account when making their investment decisions.
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