Coinbase's Stock Is a Screaming Buy Right Now
Last week, I predicted that Coinbase's (NASDAQ: COIN) business was set up for a big quarterly report given the market's trends. Bitcoin and Ethereum trading were up from the previous quarter, and since Coinbase makes money on transaction volume -- not crypto prices -- that pointed to a solid fourth quarter. The company has also been expanding into new services, like custody of crypto for institutions, that should drive new revenue streams.
When Coinbase reported fourth-quarter results after the market closed on Thursday, it was hard to do anything but be amazed by the results. Coinbase has been public for less than a year, but it's been an absolute growth machine in cryptocurrency and I think it will prove to be a steal at today's price.
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Source Fool.com
