Q2 Crypto Earnings Are BAD!! Here's What They Mean!!
Hope you had a great weekend. One away from the crypto markets spent with friends and family! I know I did.
Last week was such a topsy-turvy one with the whole Terra debacle, that you may have even missed some of the other developments. Something that did drop was Coinbase's Q1 earnings results - and “drop” is a perfect metaphor. It dropped like a rock which killed COIN stock.
That's because it was Coinbase's first earnings report as a public company where they made a loss. This was not taken positively by the market and at one point, it was trading at a PE ratio (less than 4x) that is highly unusual for a publicly listed company.
So, is it all bad news?
Well, that's exactly what I will be exploring in my video today. I will be taking a deep dive into the report and analysing exactly what were the biggest drags on the company's earnings.
I also found this report to be quite interesting to dive into because it could help give an indication of how companies in the crypto industry are lining up to survive the bear market. It's also likely that Coinbase's earnings can be used as a proxy for what is going on at all the other large global exchanges.
⛓️ 🔗 Useful Links 🔗 ⛓️
Coinbase Q1 Numbers: https://investor.coinbase.com/financi...
FT Article: https://www.ft.com/content/7587d510-8...
NFT Marketplace Bomb: https://techcrunch.com/2022/05/06/coi...
Goldman Drops Coinbase: https://www.barrons.com/articles/gold...
NFTs Bubble: https://moneyweek.com/investments/alt...
Microstrategy Shares: https://markets.businessinsider.com/n...
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.