Better Fintech Stock: Coinbase vs. Square
Coinbase (NASDAQ: COIN), a cryptocurrency exchange platform founded nearly nine years ago, went public via a direct listing on April 14. The stock opened at $381 per share, well above its reference price of $250, and closed at $328 on the first day, which valued the company at nearly $86 billion.
However, the stock subsequently fell to the low $290s as bitcoin's (CRYPTO: BTC) price tumbled. Its current market cap of $58 billion still values the company at 45 times last year's sales, which makes it pricier than many other fintech stocks.
Should investors take a chance on Coinbase, or should they stick with Square (NYSE: SQ), a more diversified fintech player that also lets its users buy and sell bitcoin?
Source Fool.com
