Why Coinbase Global (COIN) Stock May Sometime To Recover
The growth in the cryptocurrency sector has resulted in a lot of interest in companies involved in that sector and one of those is Coinbase Global (NASDAQ:COIN).
The cryptocurrency exchange posted its earnings for the first quarter last week and although the numbers were impressive, it fell short of analysts’ expectations. The company posted EBITDA earnings of $1.117 billion in the quarter ended on March 31, 2021, which was considerably higher than the $288 million in EBITDA earnings in Q4 2020.
That reflects a massive 19 times rise from the EBITDA earnings posted by Coinbase Global in the year-ago period. On the other hand, the revenues generated by Coinbase in the quarter reflected a sequential rise of as much as 221%. It is clear to see that the massive popularity of crypto trading and investing among a large number of people is going to be a major factor in the company’s growth. Experts believe that if Coinbase Global can continue in the same growth path then the stock could also deliver significant returns.