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Coinbase shares rose 5.6% in early trading.

Tiger Newspress2021-08-09

Coinbase shares rose 5.6% in early trading.

Coinbase’searnings report this week could be pivotal for the stock, one trader says.

Though shares of the cryptocurrency trading platform have fallen from their initial public offering price, “that negativity’s flushed out,” Blue Line Capital founder and President Bill Baruch told CNBC’s“Trading Nation”on Friday.

“I think their user growth is going to exceed verified users of 60 million, and I think that’s going to be sort of a benchmark that they’re going to continue to feed on. Trading activity’s where they get paid as well. I think that’s going to pick up” even if major crypto assets such asbitcoinorethereumstruggle, he said.

That bodes well for Coinbase’s second-quarter report, scheduled for Tuesday afternoon, said Baruch, who owns bitcoin and ethereum.

“There’s a good trend line support it’s coming off of and it’s broken out of a wedge of resistance,” he said. “I think this thing can go to 290-300 and I think earnings should be positive and the guidance should be good.”

Coinbase shares ended trading at $258.26 on Friday, up about 1%. They climbed an additional 3.8% to $268 in Monday’s premarket trading session. A run to $290 or $300 would be a 12-16% increase from Friday’s closing levels.

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评论53

  • Rashamon96
    ·2021-08-12
    Up to the sky
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  • Calvinchin
    ·2021-08-10
    👌🏼 yes 
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  • Kel9670ong
    ·2021-08-10
    Coinbase go over the moon
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  • Cosmiclatte
    ·2021-08-10
    Crypto on the vengeance ??!! Are the big boys inyet? If so it’s the start! 
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    收起
  • james_l
    ·2021-08-10
    Hope it goes above 300 levels
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    • tek
      Strong likelihood based on current momentum
      2021-08-10
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    • Calvinchin
      Ok
      2021-08-10
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  • kennykoh
    ·2021-08-10
    Great up up up ! 
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  • ThuSGN
    ·2021-08-10
    Like it !
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  • Nelsont
    ·2021-08-10
    [微笑] 
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  • kenong62
    ·2021-08-10
    Please likeThanks
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  • Ktzy321
    ·2021-08-10
    Bullish
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    • kenong62
      roller coaster ride
      2021-08-10
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    • Melvin888
      Yes bullish
      2021-08-10
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  • 7427d960
    ·2021-08-10
    Sure .. can drop 16% as well..
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  • Pluto891
    ·2021-08-10
    group of believers vs punter vs opportunists. I m a punter. vested interest
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  • Mr小白
    ·2021-08-10
    炒炒炒[愤怒] 
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  • Lifestyle
    ·2021-08-10
    Bitcoin goes up so is Coinbase 😉
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    • Winner168
      Yeah. My next paycheck will buy bitcoin
      2021-08-10
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    • Lifestyle
      💪
      2021-08-10
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    • M3Mike
      Ya, correlation?
      2021-08-10
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  • 玉树临风英俊
    ·2021-08-10
    👍 
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  • PhilipGoh
    ·2021-08-10
    Rocket 👍
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    • Ignis
      hi
      2021-08-10
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  • BraydenChin
    ·2021-08-10
    It will continue to go up with the increasing momentum on bitcoin.
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    • tkj
      correspondingly, it will go down if bitcoin drops and I am not sure if bitcoin is out of the woods yet
      2021-08-10
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  • NatYong
    ·2021-08-10
    Trading activity’s where they get paid as well. 
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    • JackTL
      it is back!!!
      2021-08-10
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  • JaneJane
    ·2021-08-10
    上吧!
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    收起
    • AndrewL
      Ok
      2021-08-10
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  • Atwosome
    ·2021-08-10
    To the moon
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    收起
 
 
 
 

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