tl;dr
Coinbase (NASDAQ:COIN) stock surged 7% on Monday as bitcoin broke out of a key technical level, leading to gains for other crypto-linked stocks. The surge in Coinbase stock was part of a broader trend in the cryptocurrency market, with other companies like MicroStrategy, Riot Platforms, and Bak...
Coinbase (NASDAQ:COIN) stock surged 7% on Monday as bitcoin broke out of a key technical level, leading to gains for other crypto-linked stocks.
The surge in Coinbase stock was part of a broader trend in the cryptocurrency market, with other companies like MicroStrategy, Riot Platforms, and Bakkt also experiencing significant gains. This surge in stock prices came as bitcoin surpassed the $37K mark and approached the $37.9K technical resistance level. The strength in bitcoin's price was attributed to the election victory of a pro-bitcoin candidate in Argentina. Year-to-date, COIN has seen a 215% surge, outpacing bitcoin's 125% jump, although ratings from the SA Quant system and sell-side analysts suggest a Hold recommendation for the stock.
More about Coinbase Global Inc
Key financial metrics for Coinbase Global Inc. include a market cap of $236.97 billion and a P/E ratio of 88.29. The company has reported revenue of $2.63 billion and a net income margin of -3.2%. Stock performance has shown a 11.3% increase, with a current stock price of $3.27. Market sentiment is relatively neutral, with a low P/E ratio indicating potential for future growth.
More about MicroStrategy Incorporated
Key Financial Metrics: MicroStrategy Incorporated has a market capitalization of $7,059,039,000, with a stock price of $238.34 per share. The company has a P/E ratio of 43.49 and a total revenue of $504,331,000.
Stock Performance: MicroStrategy's stock has seen a 2.04% increase recently, with a total of 536 shares outstanding.
Market Sentiment: The company's market sentiment is currently at -0.775, indicating a slightly negative outlook from investors. However, a positive momentum of 0.033 suggests a potential turnaround in the near future.
More about Riot Blockchain Inc
Riot Blockchain Inc is a cryptocurrency mining company headquartered in Castle Rock, Colorado. Its annual revenue is $2,164,277,000 with a net income of $0 and an earnings per share of -1.8. The stock has a price-to-earnings ratio of 1.582 and a market capitalization of $262,013,000. Over the past year, the stock has shown a 16.18% increase in performance. Market sentiment is positive with a Beta of 2.333, indicating a relatively high level of volatility compared to the market. Overall, Riot Blockchain Inc's financial data shows strong revenue from its cryptocurrency mining operations and a positive stock performance over the past year.
More about Bakkt Holdings Inc
Bakkt Holdings Inc is a technology services company specializing in prepackaged software. With a market cap of $116.115 million and no dividend yield, the stock has performed poorly with a negative 1.67% return over the past year. However, market sentiment seems to be improving as the stock has gained 6.77% in the last month. The company's P/E ratio is currently at -0.254, indicating potential undervaluation. With a trading volume of 579,873,000 shares and a current price of $1.07, analysts have a high target estimate of $14.5 for the stock.
Disclaimer:
This is not financial advice. Please do your own research before investing in any cryptocurrency.