Скачать или смотреть Coinbase NFT Marketplace News Push COIN Shares Higher! Is COIN a BUY? Coinbase Stock Analysis

Coinbase NFT Marketplace News Push COIN Shares Higher! Is COIN a BUY? Coinbase Stock Analysis

In this video I'm going to go over the news that Coinbase is entering the NFT marketplace sector, why this is a massive move for COIN - which has pushed Coinbase shares higher (up over 10% this past week), and why despite the massive surge, this stock is still one of my top picks for 2021, going into the coming year and decade!

But first, please go ahead and hit that Like button for YouTube's algorithm as it really helps the video and the channel... Subscribe too! I put out videos every week, mainly on investing in stocks, crypto, real estate, and more.

Alright so let's talk about Coinbase's plans to enter the NFT marketplace...

which again, I think is a HUGE move for the company, and a huge opportunity for investors, or potential investors...

the NFT space is already massive, and growing exponentially too..

NFT trading volume climbed to over $10 billion in the third quarter of this year, an over 700% increase from the second quarter! Insane!!

https://ca.finance.yahoo.com/news/coi...

...with daily sales peaking at around $268 million - sheeeeeeeeeeeehh!

https://ca.finance.yahoo.com/news/coi...

so for Coinbase to decide to use it's current reputation and user base of crypto enthusiasts to enter the NFT market, is genius...

because if they can start getting a slice of that NFT money, even a small slice would mean millions more in revenue and profits, if not billions!

on top of their already very lucrative and profitable business as mainly a crypto exchange, which they are one of the largest already

this has helped them be in a prefect position to enter the NFT market too,

with Coinbase estimating they already have 1.5 million people signed up on their waitlist to start using their NFT market - wow!

This news has pushed Coinbase shares higher this past week, with the stock price jumping up about 10% or more in the last few days alone

now, despite this recent surge, I still see Coinbase as relatively undervalued in terms of long-term growth potential, based on its fundamentals...

If you haven't seen my Coinbase stock analysis video that I put out a few months ago, definitely check it out after this one for more info

but in short, Coinbase is extremely profitable with very strong profit margins, and is growing revenue and profits at an amazing pace...

this move into the NFT marketplace will diversify its revenue, and will help ensure the company will continue to grow financials at the same pace.

despite all of this, the company still seems relatively undervalued in terms of price to sales and price to earnings ratios when compared to other tech companies

so I still see Coinbase growing in value at an amazing pace over the coming years and decade,

so I still think now could be a good time to get in at these prices if you have a long-term mindset

analysts seem to agree too, with avg. analyst ratings saying COIN is a Buy right now, and avg. analyst price targets for Coinbase coming in at around $380, which is about 40% higher than COIN's current share price of $280!

I can see Coinbase getting to that price level within the next 12 months too...

but we'll see, we can check back in a few months or in a year to see if my price prediction comes true... make sure you're subscribed!

I already have a solid position in the stock, but this is definitely a company that I plan on keeping an eye on, and when corrections occur I may buy the dip!

but what do you think? let me know in the comments!

there's more I could say on this topic too, like how Coinbase plans to use the Ethereum based standards for their NFT marketplace at first, and then upgrade to multi-chain support shortly after

but I'll add some links to articles in the video description below in case you want to read more on this news

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Alright that's it from me for this one so I will wish you a good day, a good night, and I'll see you soon in my next video! OK, cheers!

https://www.fool.com/investing/2021/1...

https://www.fool.com/investing/2021/1...

https://ca.finance.yahoo.com/news/coi...

https://ca.finance.yahoo.com/news/202...

https://ca.finance.yahoo.com/news/nft...