Overall market sentiment has been high on Coinbase Global Inc (COIN) stock lately. COIN receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.
Coinbase Global Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on COIN!
What is Stock Sentiment?
In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company.
Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down.
InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend.
Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.
What's Happening With COIN Stock Today?
Coinbase Global Inc (COIN) stock is trading at $296.46 as of 10:25 AM on Tuesday, Oct 19, an increase of $3.12, or 1.06% from the previous closing price of $293.34. Volume today is 4,799,043 compared to average volume of 3,904,386. The stock has traded between $294.61 and $307.85 so far today.
More About Coinbase Global Inc
Founded in 2012, Coinbase is the leading cryptocurrency exchange platform in the United States. The company intends to be the safe and regulation-compliant point of entry for retail investors and institutions into the cryptocurrency economy. Users can establish an account directly with the firm, instead of using an intermediary, and many choose to allow Coinbase to act as a custodian for their cryptocurrency, giving the company breadth beyond that of a traditional financial exchange. While the company still generates the majority of its revenue from transaction fees charged to its retail customers, Coinbase uses internal investment and acquisitions to expand into adjacent businesses, such as prime brokerage, data analytics, and collateralized lending.
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