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Coinbase Stock Is Up 85% in 2023: Is It Time to Buy?

Neil Patel, The Motley Fool
·4 min read
Coinbase Stock Is Up 85% in 2023: Is It Time to Buy?

Since hitting an all-time high of $357.39 in November 2021, it has been a terrible ride for Coinbase (NASDAQ: COIN). The leading cryptocurrency brokerage and exchange operator was devastated by the industry's massive downturn in 2022, a year that saw the company's net revenue decline 57.2% year over year, with an annual net loss of $2.6 billion. Coinbase shares are up a jaw-dropping 85% in 2023 (as of March 29), even outpacing the world's two most valuable digital assets, Bitcoin and Ethereum.

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