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Coinbase stock lost over 75% value

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Re: Coinbase stock lost over 75% value

#11

Post by ferdowsi »

Cloudflare is down 71% in that same period. Zoom is down 60%. Speculative pandemic tech darlings are no longer darlings and are being hammered across the board.

It's going to be a rough time for anyone who had high hopes for their equity compensation.

Re: Coinbase stock lost over 75% value

#14

Post by misiti3780 »

hardwaresofton wrote: post #7
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?

AMZN?

Re: Coinbase stock lost over 75% value

#16

Post by alephnan »

Why is Coinbase specifically being singled out?

Google went down from $3000 to $2270 in recent months. Affirm is down 27% ... today.

Is this because HN was cynical and hating on Coinbase that it would go no where and then it did?

Re: Coinbase stock lost over 75% value

#17

Post by ______-_-______ »

mjhay wrote: post #10
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.

The efficient market hypothesis is a myth

Re: Coinbase stock lost over 75% value

#18

Post by CyanLite4 »

joering2 wrote: post #6
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.

That’s the problem, crypto as an asset class has been nothing but a QAnon-fueled meme “stock”. Unfortunately, I don’t think this is the end of it until we see much more pain.

I can’t believe that real friends and family members that I know seriously invested in Dogecoin.

Re: Coinbase stock lost over 75% value

#19

Post by alephnan »

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

A broken clock is right at least twice a day.

I hope you made out like a bandit shorting the stock.

Re: Coinbase stock lost over 75% value

#20

Post by vmception »

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.

> long-term

what's your time horizon exactly?

also there may be a steeper discount tomorrow, when the forward estimates in the conference call talk about how something related to the macroeconomic environment and declining volumes and empty NFT marketplace, but who knows

its just that its not always about the earnings themselves

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