Coinbase stock lost over 75% value • Hacker News Board

Re: Coinbase stock lost over 75% value

#31

Post by cj » Tue, May 10, 2022, 1:13 AM UTC

I’m particularly sad to see Cloudflare’s stock having plummeted.

Out of all the tech companies that IPO’d in the past few years, Cloudflare is one that the most potential to excel long term. Developer sentiment towards Cloudflare is comparable to Apple fanboys of the previous decade, and their products are legitimately good, backed with tangible assets (datacenters). They also have consistent growth quarter over quarter.

It’s surprising how many not as impressive companies (pre-revenue!) got away with entering the public market last year. Good company or bad company, they all seem to be sharing the same freefall.

(Disclosure, I own NET)

Re: Coinbase stock lost over 75% value

#32

Post by jmcgough » Tue, May 10, 2022, 1:14 AM UTC

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?

Intuit. Their P/E is high but they pay dividends, they're fairly recession-proof, and they have a big moat vs competition.

Re: Coinbase stock lost over 75% value

#33

Post by thematrixturtle » Tue, May 10, 2022, 1:14 AM UTC

alephnan wrote: post #16

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?

I think you answered your own question there: Google is down 25%, Coinbase is down 3x that at 75%.

Re: Coinbase stock lost over 75% value

#34

Post by 0xy » Tue, May 10, 2022, 1:14 AM UTC

swellguy wrote: post #13

Buy high and sell low. That seems to be the MO of 2020+ investors. People are taking losses on these sales.

It's not a loss if you don't sell ;)

Re: Coinbase stock lost over 75% value

#35

Post by silisili » Tue, May 10, 2022, 1:15 AM UTC

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?

As someone who works at a...semi competitor, I think you're absolutely right about Cloudflare.

They've got a strong team, strong products, and a lot of users. I think they're in a great position to start making tons of cash if so inclined...

Re: Coinbase stock lost over 75% value

#36

Post by vmurthy » Tue, May 10, 2022, 1:15 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.

It's not the P/E itself but ALL the future earnings discounted to the present using an appropriate discount rate that counts. See the uncertainties involved here? :)

If you can predict a range for the future earnings and discount them and if it is underpriced , do buy :) .

Re: Coinbase stock lost over 75% value

#37

Post by 1-6 » Tue, May 10, 2022, 1:16 AM UTC

Don’t touch anything Cathie Wood buys (for now).

Re: Coinbase stock lost over 75% value

#38

Post by Apocryphon » Tue, May 10, 2022, 1:16 AM UTC

vmception wrote: post #22

______-_-______ wrote: post #17

Earlier quoted context omitted.

The efficient market hypothesis is a myth

exactly, the market mooned on the same information after Jerome Powell's speech than the ongoing decline the day after

The market will stay irrational for longer!

Re: Coinbase stock lost over 75% value

#39

Post by SamReidHughes » Tue, May 10, 2022, 1:16 AM UTC

alephnan wrote: post #16

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?

I can't read OP's mind, but their earnings call is tomorrow.

Coinbase is a very successful business with actual earnings and a large profit margin, it's just people's opinions of its future income that have changed.

Re: Coinbase stock lost over 75% value

#40

Post by version_five » Tue, May 10, 2022, 1:17 AM UTC

cj wrote: post #31

I’m particularly sad to see Cloudflare’s stock having plummeted. Out of all the tech companies that IPO’d in the past few years, Cloudflare is one that the most potential to excel long term. Developer sentiment towards Cloudflare is comparable to Apple fanboys of the previous decade, and their products are legitimately good, backed with tangible assets (datacenters). They also have consistent growth quarter over quar…

> Out of all the tech companies that IPO’d in the past few years, Cloudflare is one that the most potential to excel long term

If you think this, you should be happy and buy more of the stock. I don't know enough to say if I think it's a good idea, but if you do, don't be sad, buy more of it.