Trading Strategies For Coinbase Stock Heading Into Q3 Earnings
Portfolio Pulse from Melanie Schaffer
Coinbase Global, Inc (NASDAQ:COIN) is set to release its Q3 financial results, with analysts estimating earnings of 54 cents per share on revenues of $650.78 million. The company's stock was up over 8% ahead of the report. Citigroup analyst Peter Christiansen maintained a Neutral rating on Coinbase and lowered a price target from $105 to $90. Investors are keen to see how much of Coinbase's revenue was brought in through Bitcoin and Ethereum trading. The AXS 2X Innovation ETF (NASDAQ:TARK), which aims to return 200% of the daily performance of ARK Innovation ETF (NYSE:ARKK) and has Coinbase as its top holding, may be a diversified approach for bullish traders.
November 02, 2023 | 7:01 pm
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POSITIVE IMPACT
ARK Innovation ETF (ARKK), which has Coinbase as a major holding, may be impacted by Coinbase's Q3 results.
ARKK, which has Coinbase as a major holding, may be impacted by Coinbase's Q3 results. The performance of Coinbase can influence the ETF's short-term price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Coinbase's Q3 results are highly anticipated, with the stock up over 8% ahead of the report. The company's performance in Bitcoin and Ethereum trading will be closely watched.
The anticipation of Coinbase's Q3 results has driven the stock up over 8%. The company's performance in Bitcoin and Ethereum trading, which are key revenue sources, will likely impact the stock's short-term price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
The AXS 2X Innovation ETF (TARK), which aims to return 200% of the daily performance of ARK Innovation ETF (ARKK) and has Coinbase as its top holding, may be a diversified approach for bullish traders.
TARK, which has Coinbase as its top holding, may be impacted by Coinbase's Q3 results. Bullish traders may consider TARK as a diversified approach.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70