Posted 2/20/2024, 9:15:00 AM
Coinbase Stock Plunges 46% From Highs - Is Now the Time to Buy the Dip?
- Coinbase stock is down 46% from its all-time high, sparking questions on whether it's a good time to buy the dip
- The crypto market bounced back in 2023 after a brutal 2022, driving strong Q4 results for Coinbase
- But Coinbase remains highly dependent on crypto trading fees, meaning its financials stay volatile
- Management is working to diversify revenue into areas like subscriptions and services
- The long-term viability of the crypto industry will determine if Coinbase succeeds, making it a risky but potentially rewarding investment