Coinbase stock lost over 75% value

I'm a buyer at this point. We'll see how earnings turn out tomorrow, but no matter how bad the macro environment, I think $COIN at 7 P/E is a good buy long-term.

Re: Coinbase stock lost over 75% value

#5

Post by rvz » Tue, May 10, 2022, 12:56 AM UTC

I did warn you, 1 year ago against buying the top. [0][1] Oh well.

We'll see what happens in earnings today.

[0] https://news.ycombinator.com/item?id=26789822

[1] https://news.ycombinator.com/item?id=26673100

Re: Coinbase stock lost over 75% value

#6

Post by joering2 » Tue, May 10, 2022, 1:00 AM UTC

rvz wrote: post #5

I did warn you, 1 year ago against buying the top. [0][1] Oh well. We'll see what happens in earnings today. [0] https://news.ycombinator.com/item?id=26789822 [1] https://news.ycombinator.com/item?id=26673100

what is your opinion re: the whole thing being extremely over-valuated at the getgo? We had already some solid competitors and Coinbase business model is they only make money if customers buy or sell crypto.

Re: Coinbase stock lost over 75% value

#7

Post by hardwaresofton » Tue, May 10, 2022, 1:00 AM UTC

wallawe wrote: post #4

I'm a buyer at this point. We'll see how earnings turn out tomorrow, but no matter how bad the macro environment, I think $COIN at 7 P/E is a good buy long-term.

Same -- there are actually a bunch of tech stocks that are think are similarly a good bet right now, for example $NET (Cloudflare).

Any other things that look like good buys under the market crush?

Re: Coinbase stock lost over 75% value

#8

Post by 411111111111111 » Tue, May 10, 2022, 1:01 AM UTC

rvz wrote: post #5

I did warn you, 1 year ago against buying the top. [0][1] Oh well. We'll see what happens in earnings today. [0] https://news.ycombinator.com/item?id=26789822 [1] https://news.ycombinator.com/item?id=26673100

Your warning was wrong though. The price went up to over $300, so buying on the IPO would've been the correct decision if you also sold them at the beginning of the year.

It's just a high risk high reward gamble as everything related to crypto

Re: Coinbase stock lost over 75% value

#9

Post by fortran77 » Tue, May 10, 2022, 1:02 AM UTC

Buy the dip?

Re: Coinbase stock lost over 75% value

#10

Post by mjhay » Tue, May 10, 2022, 1:04 AM UTC

wallawe wrote: post #4

I'm a buyer at this point. We'll see how earnings turn out tomorrow, but no matter how bad the macro environment, I think $COIN at 7 P/E is a good buy long-term.

Keep in mind that you might get burned - you are betting against many with better information.