Why Coinbase Will Be a Multibagger Stock
The stock market didn't like what it saw from Coinbase (NASDAQ: COIN) in the first quarter of 2022. Revenue was down, the company reported a loss, and the collapse of cryptocurrency valuations over the past few weeks has been a huge cause for concern. If you thought Coinbase's crypto-trading platform was going to be a money-printing machine, like it was in 2021, the quarter looks like a disaster.
But here is where a long-term mindset is needed for Coinbase, and CEO Brian Armstrong laid out the case well in the company's conference call. Coinbase has been through turbulent markets in its decade of existence, it has a vision of a future where cryptocurrency empowers the world to be financially independent, and it has a fortress-like balance sheet to invest during this downturn and attract the best talent in the world. If cryptocurrency plays a big role in the future, this should be a massive winner for investors.
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Source Fool.com
