Holy Coinbase! What’s happening?
https://www.wsj.com/articles/coinbase-stock-keeps-sliding-ahead-of-earnings-report-11652201758 $50 per share!!! The misses across revenue and other metrics is understandable relative to macro headwinds everyone is dealing with, but what’s with the massive increase in stock based comp, declining users and core business metrics? IPO’ed at $381 1 year ago! #coinbase #crypto
The Wall Street Journal
It’s a f’ing brokerage like Robinhood.
When crypto is range bound, fewer people will trade/fewer people will want to jump into crypto, when fewer people trade/jump into crypto, Coinbase makes less money on trades and attracts fewer users. On top of that, the liquidity that was pumped into the market which supported the movement of crypto, equities and assets is leaving the market, so: 📉. That’s what’s happening right now, hope that helps
There are couple of things: 1. Yes it is undervalued if you believe in crypto and blockchain is the future. But as of now, it will cool off for an year because there are lot of exchanges which are better than Coinbase at the moment one of that is Binance. But also lot of other trading apps also give options to trade crypto Hardcore crypto bros/guurls use hard wallet to store crypto instead of exchanges. You can build a position on Coinbase which could play out as momentum play. But DCA slowly
I believe in the future of Crypto, I don't believe in shitty scammy altcoins.... Unfortunately coinbase survives on people trading/speculating on scam coins, which has nothing to do with the future of crypto (in fact, I argue that it hurts the future of crypto)
They don’t have the right brain for this.
The CFO should be fired. The CEO bought the big ugly house in LA with shareholder money and could give a f*ck. Absolute mismanagement - burning 1B while BTC is at 40k - what happens if BTC drips to 20 or 10k? Going BK.
I am very concerned how money was spent on stock comp even though stock was in blood bath
For someone that doesn’t understand, what does it mean when money was spent on stock comp? I thought $$ for employees but clearly seems like I am mistaken
If you had some cash, all in Coinbase and Robinhood.
Going by the gross mismanagement of money here, it makes you appreciate the few companies that are phenomenal when it comes to capital allocation and financial discipline.
$MSFT Working at LinkedIn is cool. You can get high pay , unique culture and food at the same time backing of MSFT for financial stuff
It's going to fall more.."In case of Bankruptcy the crypto assets we hold in custody on behalf of our customers could be subject to bankruptcy proceedings". Fk you Coinbase, people will just move away from you!
it's a crypto exchange. competitors will and have been flooding the market in no time at all