Presidential Impact on StocksEarlier this month, former President Donald Trump defeated Vice President Kamala Harris to become the president-elect. As I have discussed in previous commentaries, the data suggests that U.S. presidents have little impact on the overarching market for two reasons:1.       The U.S. Economy is Massive: Though presidents wield the most power in the U.S., the economy is akin to a giant tanker – its immense size and complex interconnectedness make it challenging to switch directions ...

President-Elect Donald Trump reportedly is meeting with Coinbase CEO Brian Armstrong to discuss the incoming administration’s personnel appointments.The meeting would mark the first time they have met since the day of the election, the Wall Street Journal (WSJ) reported Monday (Nov. 18), citing unnamed sources.Trump said during the campaign that if elected, he would form a presidential advisory commission focused on bitcoin and crypto and with developing transparent regulatory guidance in the sector, accord ...

Tom Yeung here with your Sunday Digest. Last week, I recommended five stocks to buy in 2025 on a Donald Trump election victory. The president-elect is known for his clear intentions, and his second term promises even more of what we saw during his first 2016-2020 go-around. (I realize some of you will love this idea, while others will not.) To ride this wave, I shared five stocks that focused on his people (Tesla), his oil & gas ambitions (Kinder Morgan, Halliburton), and companies that would do well under ...

Coinbase (COIN 9.69%) has been an extremely volatile stock, to say the least. From the initial public offering in April 2021 through the end of 2022, it dropped a troubling 89%. But since then, it has catapulted 801% higher (as of Nov. 12). Despite the positive momentum recently, this top cryptocurrency stock has experienced gut-wrenching ups and downs.You might be considering buying shares as they approach their all-time high. Before you do, here are three must-know facts about Coinbase.1. Coinbase is seek ...

报告投资评级 - 买入评级，目标价350.00美元/股，对应14.6xPS [12] 报告核心观点 - 报告研究的具体公司2024年第三季度业绩情况为盈利和收入均不及预期，营业收入达12亿美元，较上季度下降17%（同比增长104%）低于预期的12.6亿美元，净利润从二季度的3600万美元提升至7550万美元，调整后的EBITDA为4.49亿美元低于预期的4.692亿美元，每股EPS为0.28美元低于预期的0.45美元 [2] - 总交易收入为5.73亿美元环比下降27%，零售收入为4.83亿美元（占总收入和总交易收入的约40%和84%），机构收入为5529万美元（占总收入和总交易收入的约5%和10%），订阅和服务收入环比下降7%至5.56亿美元（占总收入的约49%），主要受三季度平均加密资产价格下降以及稳定币对交易量影响 [2] - 总运营费用为10亿美元环比下降6%，技术与开发、一般与管理以及销售与营销费用总计8.7亿美元环比增长3% [2] - 报告研究的具体公司预计订阅和服务业收入将受以太坊价格10月比三季度平均价格下降10%以及利率下降等不利因素影响，预计第四季度技术和开发费用以及一般管理费用在6.9亿美元到7.3亿美元之间，销售和营销费用在1.7亿美元到2.2亿美元之间（增长主要因平台上USDC余额增加和品牌支出增加），董事会授权10亿美元股票回购计划，公司资产负债表上有82亿美元美元资源和1.3亿美元加密资产投资组合支持股票回购等资本配置活动 [7] - 加密货币近期大涨与特朗普赢得美国总统大选有关，他在竞选期间表达对加密货币青睐，上任后可能辞退对加密货币呈敌对态度的现任SEC主席，强化投资者信心，比特币价格上涨受MicroStrategy发债买币策略、比特币ETF流入、市场对降息预期等因素影响，比特币2024年表现强劲年初至今上涨约118%，加密货币价格上涨对报告研究的具体公司存在积极影响，报告研究的具体公司股价和市场表现受比特币价格影响，其业务包括交易服务和资产管理等，比特币价格上涨可能增加其资产管理业务量提升营收，但长期业绩仍需关注市场整体趋势和稳定性，考虑到加密货币市场呈牛市趋势，看好报告研究的具体公司发展维持买入评级 [8][9][10][11][12] 根据相关目录分别进行总结 业绩摘要 - 2024年第三季度报告研究的具体公司营业收入12亿美元，较上季度降17%（同比增104%）低于预期，净利润从二季度3600万美元提升到7550万美元，调整后EBITDA为4.49亿美元低于预期，每股EPS为0.28美元低于预期 [2] - 总交易收入5.73亿美元环比降27%，零售收入4.83亿美元，机构收入5529万美元，订阅和服务收入环比降7%至5.56亿美元 [2] - 总运营费用10亿美元环比降6%，技术与开发、一般与管理以及销售与营销费用总计8.7亿美元环比增3% [2] 盈利预测与估值 - 目标价350.00美元/股，对应14.6xPS，维持买入评级，考虑到加密货币市场呈牛市趋势看好报告研究的具体公司发展 [12] 四季度业绩展望与回购计划 - 订阅和服务业收入受以太坊价格下降和利率下降影响，技术和开发及一般管理费用预计在6.9 - 7.3亿美元之间，销售和营销费用预计在1.7 - 2.2亿美元之间，董事会授权10亿美元股票回购计划，公司有82亿美元美元资源和1.3亿美元加密资产投资组合支持相关活动 [7] 主要财务报表 - 给出了报告研究的具体公司2022 - 2026年（预测）的收入、利润、经营利润率、EBITDA利率、净利率等多项财务指标数据 [14]

In the wake of Donald Trump’s presidential victory, investor optimism has surged across the cryptocurrency market, driving notable gains in major crypto-related stocks. Shares of Coinbase Global (NASDAQ: COIN) and Robinhood Markets (NASDAQ: HOOD) have experienced significant gains, driven by renewed bullish sentiment surrounding digital assets. With Trump’s pro-crypto stance and the Republican Party regaining control of the Senate, investors are increasingly hopeful for supportive policies that could furthe ...

Key TakeawaysCoinbase shares surged 20% to a three-year high Monday as investors bet that higher trading volumes and a more favorable regulatory environment under the incoming Trump Administration could benefit the crypto exchange.The stock broke out above the top trendline of a seven-month descending channel last week on above-average volume, with follow-through buying continuing into this week.Investors should watch key overhead levels on the Coinbase chart around $369, $430, and $695, while monitoring an ...

分组1 - 报告公司投资评级：未明确给出[4] - 报告的核心观点：Coinbase 24Q3受加密货币市场波动影响业绩下滑，收入不及预期，但公司正在积极进行产品创新/拓展以增加新的收入流，且各地通过合规化展业是其未来稳健发展的保障，看好公司在加密货币行业beta上行的同时，合规化的前瞻Alpha优势[4] 分组2 - 24Q3财报情况：收入为12.1亿美元低于一致预期（12.5亿），其中交易收入5.7亿美元低于一致预期（6.2亿），订阅与服务收入5.6亿美元低于一致预期调整（5.7亿），调整后EBITDA为4.5亿美元低于一致预期（4.6亿），调整后净利润为7550万美元，本季度来自加密货币的公允价值调整带来约1.2亿损失[1] - 交易业务情况：零售端24Q3零售交易收入为4.8亿美元环比下降27%，零售交易额为340亿美元环比下降8%，零售端费率环比下降至1.42%（24Q2为1.80%），机构端24Q3机构交易收入为5530万美元环比下降13%，机构交易量为1510亿美元环比下降20%，其他交易收入24Q2为3400万美元环比下降35%，本季度Base上的交易数量环比增长55%[2] - 订阅和服务业务情况：24Q3订阅和服务收入为5.6亿美元环比下降7%，质押、托管和平台上USDC余额等币本位的平均数环比增长但被加密资产价格平均水平较低带来的逆风抵消，稳定币收入为2.5亿美元环比增长3%，区块链奖励收入为1.6亿美元环比下降16%，利息和金融费用收入为6400万美元环比下降8%，托管费收入为3200万美元环比下降8%，其他订阅和服务收入为5870万美元环比下降16%，公司在推动收入和提升加密货币实用性方面有进展且宣布高达10亿美元的股权回购计划[3] - 23Q4指引情况：收入端公司预计10月的交易总收入约为1.9亿美元，预计订阅和服务收入在5.05 - 5.8亿美元之间，费用端公司预计研发费用+管理费用在6.9 - 7.3亿美元之间，预计销售费用将在1.7 - 2.2亿美元之间[4]

报告投资评级 - 未明确给出Coinbase的投资评级[1][4] 报告核心观点 - Coinbase 24Q3财报显示收入不及预期但收入多元化持续推进，受加密货币市场波动影响业绩有所下滑，不过公司正在积极进行产品创新/拓展以增加新的收入流，看好公司在加密货币行业beta上行时合规化的前瞻Alpha优势[1][4] 按目录总结 交易业务 - 24Q3交易收入减少，零售端交易收入4.8亿美元环比下降27%交易额340亿美元环比下降8%费率降至1.42%，机构端交易收入5530万美元环比下降13%交易量1510亿美元环比下降20%，其他交易收入24Q2为3400万美元环比下降35%，本季度Base上交易数量环比增长55%[2] 订阅和服务业务 - 24Q3订阅和服务收入5.6亿美元环比下降7%，稳定币收入2.5亿美元环比增长3%，区块链奖励收入1.6亿美元环比下降16%，利息和金融费用收入6400万美元环比下降8%，托管费收入3200万美元环比下降8%，其他订阅和服务收入5870万美元环比下降16%，公司在推动收入和提升加密货币实用性方面有进展且宣布10亿美元股权回购计划[3] 23Q4指引 - 收入端，10月交易总收入预计约1.9亿美元，订阅和服务收入预计在5.05 - 5.8亿美元之间，受ETH价格下降和利率下调等因素影响；费用端，研发费用+管理费用预计在6.9 - 7.3亿美元之间，销售费用预计在1.7 - 2.2亿美元之间[4]

NEW YORK, Nov. 08, 2024 (GLOBE NEWSWIRE) -- WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Coinbase Global, Inc. (NASDAQ: COIN) between April 14, 2021 and July 25, 2024, both dates inclusive (the “Class Period”), of the important November 12, 2024 lead plaintiff deadline in the securities class action first filed by the Firm. SO WHAT: If you purchased Coinbase securities during the Class Period you may be entitled to compensation without payment of any out of po ...