Coinbase Global Stock: Bear vs. Bull

Coinbase (NASDAQ: COIN), one of the largest cryptocurrency exchanges in the world, took investors on a wild ride after its direct listing last April. It went public with a reference price of $250, hit its all-time high of $429.54 on the first trading day, and eventually closed at $328.28 per share.

Today, Coinbase trades in the mid-$230s. The market's initial enthusiasm fizzled out as Bitcoin's (CRYPTO: BTC) gains stalled, other speculative cryptocurrencies lost their momentum, and a growing number of regulatory threats cast dark clouds over the nascent industry.

But have investors become too bearish on this high-growth cryptocurrency stock? Let's compare the bear and bull cases to find out.

Source Fool.com