Hedgeye CEO Keith McCullough is adding Coinbase (COIN) to the long side of Investing Ideas. Below is a brief note.
Been waiting, patiently, for consensus to get frustrated with "Crypto not going up"...
And, of course, and immediate-term TRADE #oversold signal within Coinbase's (COIN) Bullish @Hedgeye TREND.
From Financials analyst Josh Steiner's Financials Pro research product:
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Takeaway: The time is right to add Coinbase on the long side. Back in June, we hosted a Coinbase bull-bear debate in which we profiled the risk-reward setup for the broader digital asset space as well as Coinbase, the largest U.S. cryptocurrency exchange. The detailed bull case for Coinbase can be reviewed in that presentation. With the continued, widespread growth of the crypto asset class, and what had been a cooler third quarter, we are adding Coinbase (COIN) as a new Best Idea Long based on the strong October trends and the longer-term, secular growth tailwinds across the crypto-verse. |
Buyem on red so that you aren't chasing moving monkeys on green,
KM