A day after Coinbase Global Inc (NASDAQ: COIN) said the U.S. Securities and Exchange Commission threatened to sue if it went ahead with plans of launching the “lend” product, Requisite Capital’s Bryn Talkington added to her position in the crypto exchange on Thursday.
Coinbase shares are more than 1.0% down on the intraday chart.
Bryn Talkington’s remarks on CNBC’s “Halftime Report”
Coinbase has lost a little under 10% in the stock market since last Friday. The dip, as per Talkington, made up for a good buying opportunity. Commenting further on adding to her position in Coinbase, she said on CNBC’s “Halftime Report”:
“I’m a big fan of Brian Armstrong, and I’m a big believer in the technology around cryptocurrencies.”
Coinbase reported $1.6 billion in net income on $2.0 billion in revenues in its latest reported quarter. Quoting its cash stature that stood at $4.4 billion at the end of the second quarter, Bryn added:
“If you look at their runway, this company is growing so fast. I think over the next year or so, you could see their net income for a year come in close to $8.0 billion.”
Coinbase secured regulatory approval from Japan and Germany
In recent months, Coinbase secured regulatory approval to expand its crypto exchange business to Japan and Germany – two of the largest crypto markets around the world. That, Talkington said, could help drive growth in the future as well.
“I think it’s similar to when PayPal announced it’ll now offer cryptocurrency; very accretive to their bottom line. I think it’s early days for Coinbase, so I just took the volatility yesterday to add to the position,” she concluded.
The $54 billion company now has a price to earnings ratio of 32.34.
The post Talkington buys Coinbase shares: ‘they could hit $8.0 billion in net income” appeared first on Invezz.
from USA – Invezz https://ift.tt/3E5NZkG
Wajeeh Khan
Click here to Join RICH DAD SUMMIT online with ROBERT KIYOSAKI - $1 Training for Passive Income: https://bit.ly/RichDadSummitWealthTraining
0 Comments