In this clip from The Call @ Hedgeye, Financials analyst Josh Steiner flags recent earnings updates from Coinbase Global, Inc. (COIN), while noting how recent developments in the cryptocurrency space continue to change the outlook for the company’s future.
“Much of what Coinbase does here is really a function of volatility,” notes Steiner. “And there was a lot less volatility in Q3 than in Q2. But if we look what is already happening in October, their business has picked up wildly.”
“Bigger picture I would just flag that this thing is a rocketship. And as I just said, the numbers for October are dramatically accelerating from what we saw in Q3. Just an extraordinary business.”
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