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Coinbase stock lost over 75% value
121–130 of 466 posts
Re: Coinbase stock lost over 75% value
#122I'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?
INTC is trading at a PE of 7.1! And a dividend yield of 3.3%
Re: Coinbase stock lost over 75% value
#123Earlier quoted context omitted.
Yes and no. You might not have cash to spare (especially in such a volatile period). Also, investing more might exceed your exposure limit to a single stock/industry.
Sure you should have a diversified portfolio but everything is also on discount. Warren Buffet went on a buying spree. If you don't have cash to spare thinking about investing isn't what you should focus on but instead doing basic financial wellness like having a savings account. Also cash has been outperforming the market so far so cash isn't necessarily a bad investment.
>If you don't have cash to spare thinking about investing isn't what you should focus on but instead doing basic financial wellness like having a savings account.
There are an incredible number of reasons why they might not be able to invest right now so perhaps it isn't the best thing to immediately goto implying they don't even have a savings account.
Re: Coinbase stock lost over 75% value
#124Earlier quoted context omitted.
Keep in mind that you might get burned - you are betting against many with better information.
The efficient market hypothesis is a myth
There's various forms of the EMH. As a general heuristic does it really seem unreasonable to assume that a random HN commenter has worse pricing information than a wall st analyst?
Re: Coinbase stock lost over 75% value
#125Only 75%? So still 25% to go
Re: Coinbase stock lost over 75% value
#126I’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…
$212M quarterly revenue with a $41M loss. In this climate you better have a solid PE as a public company or you’re in deep shit. This is the second dot-com bust. I worked at eToys for the first. $6B market cap and was delisted. Assets sold off for $2M when liquidated. Make no mistake about how bad things are about to get.
I lived through the dotcom bust, the financial crisis and now this. Long term it isn’t going to be any worse than they were. In 2-3 years we will be recovering. I feel bad for people who can’t wait out a market cycle, but that’s what this is, somewhat exacerbated by the Fed’s actions leading up to this point.
Re: Coinbase stock lost over 75% value
#127I’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…
> Developer sentiment towards Cloudflare is comparable to Apple fanboys of the previous decade I consciously stay out of negative threads about Cloudflare because I feel way too attached to them.
Why did you post this then?
Re: Coinbase stock lost over 75% value
#128I'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.
Dude, once the Bitcoin bubble pops there are going to be zero revenues.
Re: Coinbase stock lost over 75% value
#129Buy the dip?
Recent post is good reading: https://news.ycombinator.com/item?id=31287464
Seems like the elephant in the room across the board in this market, whether you're talking about Netflix, Coinbase or anything else, is that we haven't seen inflation out of control for 30+ years and now here it is. An entire generation are now adults or even into middle age who never experienced it before. Most especially, never experienced how difficult it can be to control because it is such a self-reinforcing phenomenon.
I have no idea if this is going to turn out to be the protracted downturn or again something we bounce back from. But there is definitely at least something different in the equation now that we have not seen for a long time.
I'm generally an optimist, but I'd say if people are buying this dip, at least do it with your eyes open and buy it slowly and steadily, being prepared that it could be a 5-10year recovery period.
Re: Coinbase stock lost over 75% value
#130So I'm a crypto non-believer. I see it as the ultimate solution looking for a problem. But that doesn't apply to Coinbase because, at its core, Coinbase should be a transactional business that is a proxy for the size of the crypto market (or, more specifically, the crypto trading volume). I don't know enough about the financials of Coinbase however. It could be they have risks unrelated to their transaction business.…
Wouldn't it be a problem for Coinbase if the crypto market all but evaporates?
The crypto market won't all evaporate because it is a very useful tool for money laundry, illegal transactions, and bribes.
But this is hopefully a much smaller market than the current one.