Coinbase: Sell As The Fundamentals And Charts Both Roll Over (Archive)

This 5-Minute Pitch was originally published on Seeking Alpha before the launch of the Hunting Alphas website. It is shared here to showcase my previous work and track record. New 5-Minute Pitches published on this site will not be disseminated anywhere else.

Elevator Pitch

• Coinbase faces revenue headwinds as lower interest rates threaten to slow growth in stablecoin interest income, which currently contributes nearly 20% of overall revenue.
• Operating expenses in sales, R&D, and G&A are rising due to acquisitions and headcount growth, creating potential margin pressure into 2026 as management frames 2025 as an investment year.
• Coinbase trades at a lower premium vs. sector peers and vs. own history, but flat earnings expectations limit how much this valuation discount can support the stock.
• COIN has failed multiple times at a key technical resistance level vs. the S&P 500, and recent price action suggests growing risk of downside and underperformance ahead.
• A more accommodative regulatory environment globally remains an upside risk that could expand Coinbase’s market opportunities.

Read the full article here.