2 Reasons to Sell Coinbase Stock
Several of the popular cryptocurrencies have performed spectacularly well over the last 12 months as digital assets gain more mainstream acceptance. However, volatility has intensified in recent months, raising fears of an impending crash.
Coinbase Global (NASDAQ: COIN), which operates as a cryptocurrency exchange platform, debuted as a public stock in mid-April right about the time that several cryptocurrencies became even more volatile and saw significant price drops. That depressed the value of the stock right out of the gate, although Bitcoin (CRYPTO: BTC) has seen some price recovery this week and Coinbase stock has followed suit (Coinbase stock jumped 6.7% in Monday trading).
Let's explore why this increased cryptocurrency volatility and competition not usually found in traditional fintech companies could hurt this stock.
Source Fool.com
