Is Coinbase Global Stock a Buy Now?
Coinbase Global (NASDAQ: COIN), which owns one of the world's largest cryptocurrency exchanges, saw its stock close at an all-time high of $357.39 on Nov. 9, 2021. The bulls rushed to the stock as cryptocurrency prices soared and investors aggressively accumulated shares of growth and meme stocks.
But today, Coinbase's stock trades at about $109 a share. It plummeted about 70% as rising interest rates drove investors away from cryptocurrencies, meme stocks, and other speculative investments. The failures of several high-profile tokens and exchanges also drove government regulators to tighten their grip on the freewheeling crypto market.
Image source: Getty Images.
Source Fool.com
Coinbase Global Inc. Stock
€129.70
-0.200%
Currently there is a rather positive sentiment for Coinbase Global Inc. with 68 Buy predictions and 12 Sell predictions.
With a target price of 224 € there is a hugely positive potential of 72.71% for Coinbase Global Inc. compared to the current price of 129.7 €.
