I rated CONL a 'sell' in August, but the fund has since delivered a 91% total return in just over 3 months. Despite CONL's past underperformance compared to Coinbase, the recent surge in digital assets has driven significant returns for both COIN and CONL. Bitcoin hitting $100k and capital flows into Ethereum have fueled a rally in the digital asset space, benefiting CONL.
As 2024 draws to a close, the stock market presents various investment opportunities, with equities likely to gain momentum into the new year.
Bitcoin (BTC-USD) passes the $100,000 mark, raising the tide for other cryptocurrencies and crypto-related plays. Brad Smith and Madison Mills take a look at other names sharing in bitcoin's rise, like dogecoin (DOGE-USD), Ripple XRP (XRP-USD), Solana (SOL-USD), Tether (USDT-USD), and Coinbase (COIN).
Selling this spread would generate roughly $180 in premium, which would be a 22% return in six weeks. The post Coinbase Option Trade Could Return 22% By Mid-January appeared first on Investor's Business Daily.
COIN MOVES UP OVER 11 POINTS
Shares of Coinbase (COIN 2.30%) shot up 65% in November, according to data from S&P Global Market Intelligence. The cryptocurrency platform and market exchange posted disappointing earnings but saw its share price rise after the Trump victory in the United States presidential election.
OpenAI said on Tuesday that it's hired Kate Rouch from Coinbase as its first chief marketing officer. Rouch joined the crypto company in August 2021 and oversaw its Super Bowl ads.
Coinbase is the true market leader in the crypto exchange industry. The stock should benefit from global crypto adoption, strategic partnerships, and a strong balance sheet.
Faryar Shirzad, chief policy officer at Coinbase, said he sees crypto legislation making its way through Congress "fairly quickly" following President-elect Donald Trump's win. "I think we have the most pro-crypto Congress ever history," Shirzad told CNBC in an interview, but noted there's only a "small" chance the crypto legislation is considered in the so-called "lame duck" post-election period.
Coinbase Global (COIN) reported earnings 30 days ago. What's next for the stock?
Coinbase reported strong Q3 earnings driven by increased transaction volumes, highlighting its growth potential amid rising Bitcoin prices. Coinbase's diversified revenue streams and significant year-over-year growth in consumer and institutional trading volumes underscore its profitability and financial strength. Due to Bitcoin's high market dominance, a rising BTC price will likely pull up the entire cryptocurrency market.
Zacks.com users have recently been watching Coinbase Global (COIN) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.