Coinbase GlobalShort
Coinbase - Short -30 %
Probably there was no IPO which was as hyped as the one of Coinbase. This is not least due to the incredible growth of the various cryptocurrencies (BTC, ETH, XRP, etc.). At the moment, however, it seems that the hype is not as big as expected. After the start of trading, the share reached a value of over $400. Since then, it has fallen by almost 25% to $300. Does this mean that the crypto hype is over? Definitely not! Does that mean Coinbase gets a buy recommendation? Unfortunately, no. Even if analysts assume a price target of just under $500, I would advise against a buy at the moment. I assess the mood on the crypto market as uncertain. Bitcoin and other altcoins have rallied rapidly in the past year and catapulted the coins to new all-time highs (ATH). I doubt, not that BTC will eventually rise to $100,000! However, I doubt it will happen anytime soon. If cryptos fall lower in the near future (which I strongly believe will happen), Coinbase's stock will continue to fall. However, it is hard to say when Coinbase stock will reach a fair value. Based on my current knowledge, I would wait and look at the stock again when we are closer to a $200 share price.
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