COIN

Coinbase Global Inc - Ordinary Shares - Class A

Finance/Real Estate, TMT, Credit


Presented:03/02/2023
Price:$63.70
Cap:$14.45B
Current Price:$196.34
Cap:$48.79B

Presented

Date03/02/2023
Price$63.70
Market Cap$14.45B
Ent Value$6.23B
P/E RatioN/A
Book Value$23.63
Div Yield0%
Shares O/S226.92M
Ave Daily Vol17,107,409
Short Int20.18%

Current

Price$196.34
Market Cap$48.79B
Coinbase Global, Inc. engages in technology and financial infrastructure products and services. It offers crypto-powered technologies including self-custody wallets, decentralized apps and services, and open community engagement platforms. The company was founded by Brian Armstrong in 2012 and is headquartered in San Francisco, CA.

Publicly traded companies mentioned herein: Coinbase Global Inc. (COIN)

Highlights

The presenter makes the case to be short shares of Coinbase equity (COIN) and long its 0.50% Convertible Notes due on June 1, 2026. He highlights renewed risk of regulatory changes as a negative catalyst that could further impact Coinbase (COIN) shares and expects the SEC will soon rule by mandate or perceived mandate rather than by legislation, which could “kill some businesses along the way.” Even if COIN fails he believes that holders of the converts are relatively well positioned at today’s prices and that the instrument provides a hedge against upside volatility in crypto which though perhaps unlikely in the near future could literally ‘come out of nowhere and for no apparent reason’.

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Idea Discussion

Commentor 1 - 2 weeks ago

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