[wvic] Re: New Company Research

  • From: rkhsoar <rkhsoar@xxxxxxxxx>
  • To: wvic@xxxxxxxxxxxxx
  • Date: Sun, 12 Dec 2021 16:42:53 +0000

Simon
Thanks for your work and the detail on these two….
…a little more information on Coinbase - (and apologies for offering a rather more bullish view !):
For the nine months ended 30 September 2021,Coinbase Global Inc revenues increased from $692.4M to$5.34B. Net income applicable to common stockholders increased from $92.1M to $2.24B. Revenues reflect Netrevenue increase from $644.1M to $4.86B, Other revenueincrease from $48.3M to $476.3M. Basic Earnings per Shareexcluding Extraordinary Items increased from $0.46 to$11.74.
I like this stock and the recent illogically large fall in the share price I believe has only been driven by people who think it’s performance is directly linked to crypto which it is not (apart from levels of transactions). I think this has opened an opportunity to buy at below the January issue price of around $325 (currently $255). Bear in mind at $325 on issue the revenues were $692m and are now $5.3bn !! If institutions backed the issue price (and in September increased their holdings further at around the current price) it seems to me that after demonstrating this level of growth we should perhaps consider this as an opportunity….??Operating margin is 44%, Trailing Twelve Months turnover is now over $7bn and projected net profit over $3bn…..
Looking forward to tomorrow evening - I plan to come hungry !

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Sent from my iPad
On 12 Dec 2021, at 10:27, Simon Stephenson <simon@xxxxxxxxxxxxxxxxxxx> wrote:



Dear All

 

I was asked at the last meeting to do some research into two new companies:

 

I have attached my notes on Enovix and Coinbase:  In summary:

 

Enovix merged with a SPAC earlier this year and is an interesting part of the rapidly growing battery sector – developing silicon anode technology for smaller devices.  My recommendation is to buy

 

Coinbase in simple terms provides a cryptocurrency exchange and on the surface would seem to be an interesting buy as it would allow us to stay in crypto but with a less volatile investment.  Currently however it would seem to be inexorably tied to the fortunes of the currencies which are being traded and follows their fortunes rather too slavishly.  I would suggest that we keep an eye on this for the future but do not invest now.

 

With best wishes

 

Simon

 

 

 

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