Why Coinbase's Moon Mission Could Come Crashing Back to Earth
Down nearly 30% since getting publicly listed about three months ago, Coinbase Global (NASDAQ: COIN) quickly became one of the most disappointing IPOs of the year. The much-anticipated offering was a victim of poor timing, as the price of cryptocurrencies like Bitcoin (CRYPTO: BTC) lost nearly half of their value in the face of regulatory crackdowns. It's safe to say that Coinbase had botched its moonshot mission, that is, the hopes of the stock appreciating rapidly within a very short period of time.
All is well when we look at Coinbase's past financials -- but they say nothing about the significant risks it is facing again. So let's examine why Coinbase stock is more likely to fall back down to earth rather than ascend and recover to its highs.
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Source Fool.com
