Richard,
Thank you for this. Impressive statistics, but I am concerned that if it is so
wonderful, why its share value has been on a steady down turn for 3 months.
It pays no dividends despite its massive profits, and it Debt is nearly $4Bn –
huge!
Interesting to discuss tomorrow over a glass or two ….. or three ….
Robin
From: wvic-bounce@xxxxxxxxxxxxx <wvic-bounce@xxxxxxxxxxxxx> On Behalf Of rkhsoar
Sent: 12 December 2021 16:43
To: wvic@xxxxxxxxxxxxx
Subject: [wvic] Re: New Company Research
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 !
