Finance
Is Coinbase Stock Still Worth A Look Following SEC Threats?
Published
1 year agoon
By
James White
Cryptocurrency broker Coinbase stock (NASDAQ
NDAQ
So is Coinbase stock still worth a look considering the recent regulatory headwinds? Now, cryptocurrencies themselves have actually fared pretty well this year, with Bitcoin
BTC
That being said, the longer-term trajectory for Coinbase could be a bit more uncertain given the SEC’s recent actions. There is also a possibility that technology investors could also move on from cryptocurrency to other hot areas such as artificial intelligence (especially following the capabilities shown by the viral ChatGPT), which could have a much more productive impact on the economy. We remain marginally positive on Coinbase stock, with a $70 per share valuation, which is 10% ahead of the current market price of $63 per share. See our analysis on Coinbase Valuation: Expensive or Cheap? for more details on Coinbase’s valuation. Also, check out our analysis on Coinbase Revenues: How Does COIN Make Money? for details on the company’s key revenue streams and how they have been trending.
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Source: Fox Business
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