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Will Coinbase shares continue to sink?

first_imgWill Coinbase shares continue to sink? Enter Your Email Address Dylan Hood owns shares in Tesla. The Motley Fool UK owns shares of and has recommended Tesla. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. FREE REPORT: Why this £5 stock could be set to surge Simply click below to discover how you can take advantage of this. Dylan Hood | Wednesday, 9th June, 2021 | More on: COIN Our 6 ‘Best Buys Now’ Shares Coinbase (NASDAQ: COIN) shares closed 4% lower yesterday as prices continued to fall. After its IPO almost two months ago, the stock’s value has sunk more than 30%. With such strong hype around the crypto market, it may seem a surprise that share prices keep falling. Let’s have a closer look at what’s going on.Coinbase reports positive earningsAlthough Coinbase shares are falling in value, the company has posted some seriously encouraging Q1 results. The cryptocurrency exchange reported revenues of $1.8bn, up from $585m in the previous quarter. In addition to this, net profits for the quarter sat at $771m, 24 times larger than 2020’s Q1 profits. The massive jump in Q1 earnings was in line with the booming crypto market at the start of the year. And the fact the firm actually turned a profit was very encouraging as many early-stage growth stocks often operate with heavy losses.5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…And if you click here we’ll show you something that could be key to unlocking 5G’s full potential…Another positive for Coinbase shares is that the firm makes 94% of its revenues from trading fees. This means that even when the markets aren’t performing well, the firm can still generate fees from buyers and sellers. Growth in users is encouraging too. Monthly transactions more than doubled from 2.8m to 6.1m for the most recent quarter, as total users reached 56m. Both these reasons give me long-term confidence for Coinbase shares, assuming the crypto industry is here to stay.Crypto market crashThe recent crypto sell-off will likely have been a benefit for Coinbase’s revenues. However, this seems to have been outweighed by a more bearish attitude towards the industry. Bitcoin has almost halved in value since its April highs, with many other popular coins like Ethereum and Ripple following a similar trajectory. With Coinbase shares’ value so closely correlated to Bitcoin’s performance, a bearish crypto market doesn’t bode well for the firm.What’s more, some volatility of Bitcoin can be linked to Elon Musk’s continuing market commentary. When he announced Tesla would no longer be accepting Bitcoin payments, prices plummeted. Former US President Donald Trump also commented he believes BTC “seems like a scam” in a recent Fox Business News interview. The fact that Bitcoin prices are so easily affected by individual comments, and Bitcoin is so closely correlated to Coinbase shares, are big red flags for me.Coinbase shares: will they continue to fall?Provided the crypto industry is here to stay, I think that Coinbase shares could yield some great returns in the future. I would have expected the stellar Q1 earnings report to have boosted the share value, but bearish crypto market sentiment seems to have outweighed the positives. In the current market climate, I don’t see Coinbase shares rising any time soon. In fact, I think they could fall further.So, I’m keeping my eye on this stock. I do like the firm’s long-term positioning, but it’s so dependent on the wider crypto industry and I want to see some more stability prior to investing.  center_img Get the full details on this £5 stock now – while your report is free. See all posts by Dylan Hood Are you on the lookout for UK growth stocks?If so, get this FREE no-strings report now.While it’s available: you’ll discover what we think is a top growth stock for the decade ahead.And the performance of this company really is stunning.In 2019, it returned £150million to shareholders through buybacks and dividends.We believe its financial position is about as solid as anything we’ve seen.Since 2016, annual revenues increased 31%In March 2020, one of its senior directors LOADED UP on 25,000 shares – a position worth £90,259Operating cash flow is up 47%. (Even its operating margins are rising every year!)Quite simply, we believe it’s a fantastic Foolish growth pick.What’s more, it deserves your attention today.So please don’t wait another moment. Renowned stock-picker Mark Rogers and his analyst team at The Motley Fool UK have named 6 shares that they believe UK investors should consider buying NOW.So if you’re looking for more stock ideas to try and best position your portfolio today, then it might be a good day for you. Because we’re offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our ‘no quibbles’ 30-day subscription fee refund guarantee. I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement. Image source: Getty Images last_img read more

Bar Risa closes

first_imgBar Risa nightclub has announced that it will close effective immediately after owner Jongleurs went into liquidation last Tuesday.The news has prompted an outcry of student grief.A statement published by the popular Friday night venue read, “Sadly, we can confirm that Jongleurs in Hythe Bridge Street has closed as the economics are such that long term viability cannot be assured.”Shortly after the announcement a flood of distressed student statuses appeared on Facebook. One student wrote “Why does the world have to be so cruel? Goodbye Risa.” Another stated, “Today was going so well until I discovered the demise of Risa. It’s a sad time for us all.”Matthew Evans-Young, a third-year Historian described his response to the news, “It’s like a great light has gone out. Never again will Oxford nightlife be the same. There will always be a Risa-shaped hole in my heart.”Only yesterday Oxford Students Services Limited sent out an e-mail promoting the night at Risa saying, “Oxford’s only student night on a Friday! Rammed every single week, get down before 11pm or risk missing out!” As a result of the closure, the Friday night will be hosted now at Escape on High Street.Scott Mody, a second-year Christ Church student commented with dissatisfaction on the change, “Risa is one of the best and funniest venues…Escape is always quite disappointing. Risa rooms are far better than Escape’s.”One third-year Oriel student added, “It’s like Filth all over again.”The closure came after Jongleurs parent company Regents Inn went into administration. Although the vast majority of the group’s assets were, sold protecting 2,000 jobs, nine trading sites were closed. At Risa, 15 employees were made redundant.Bar Risa’s closure makes it the latest addition to a string of failed recreational venues in Oxford. In recent months, Ha! Ha! Bar and Canteen and the burger chain Tootsies have closed their venues in the Castle. The Italian restaurant Carluccio’s has also confirmed that it is pulling out of the site due to poor trading and the nearby Living Room bar and restaurant is also in administration, though it continues to trade.A spokesperson for the company’s liquidators stated that it might be difficult to sell the site considering the number of empty venues around Oxford, especially in the Oxford Castle.However, not everyone was sad to see the club go. Colin Cook, chairman of the city council’s licensing committee commented, “Jongleurs caused many problems to nearby residents in Upper Fisher Row in the past, so I’m glad to see they will get some respite from the nuisance from that particular venue in the short term.“Restaurants come and go throughout Oxford and have done for many years.“This recession is certainly having an impact at the moment and the winter season is never a good time for bars and restaurants.”last_img read more

Restless Pochettino holds key to Spurs progress

first_imgWolverhampton, United Kingdom | AFP | Dele Alli’s reaction to signing a new six-year deal with Tottenham this week underlined why Mauricio Pochettino is so valuable to the north London club amid claims the Argentine coach is growing restless.Victory at Wolves on Saturday would extend Spurs’ best start to a Premier League campaign since Pochettino took charge ahead of the 2014-15 season.That, though, tells only part of the story.Performances have too often fallen short of standards set in recent seasons, throwing focus on the failure to make any signings during the last transfer window.The after-effects of a gruelling World Cup campaign have taken a toll on a number of Pochettino’s squad, while Tottenham’s Champions League campaign already hangs in the balance.Add to that the continuing delays to Tottenham’s move back into a rebuilt White Hart Lane, and there is a growing sense the club is treading water right now.Speaking ahead of Monday’s home defeat to Manchester City, Pochettino admitted to feeling frustrated, conceding this was the worst he has felt since taking charge of the club.Pochettino acknowledged his side has made some progress, but insisted off-field distractions had diverted their focus away from winning trophies.It doesn’t help, then, that Real Madrid, long term admirers of the Argentinian, are now looking for a replacement for the sacked Julen Lopetegui.Pochettino’s future appeared secure when he signed a new five-year contract at the end of last season. But Tottenham would not be the first club to discover they have a fight on their hands if the La Liga giants decide to step up their interest in the manager.The central importance of Pochettino to Tottenham’s long-term plans, though, was reinforced by Alli’s glowing endorsement.The England midfielder became the latest member of Pochettino’s squad to sign a long-term deal this week and made it clear the Argentine was a major factor in his decision to put pen to paper.– In demand –“He is a massive part of wanting to be at this club,” said Alli after Wednesday’s win at West Ham in the League Cup.“The fans are amazing, the chairman, everyone — the whole club’s amazing.“But as players you work with the gaffer, you want to have a good relationship with the manager, and we all feel like we’ve got that here.“We all love the way we work, the style of play. We all want to be a part of it.“He’s done a lot for me so far and hopefully he can keep helping me to improve.”Share on: WhatsApp Pages: 1 2last_img read more

England bank on Barclay for Italian job

first_img Barclay Brown (Hallamshire, Yorkshire), winner of the inaugural North of England under 14 Junior Open Stroke Play Championship at South Moor Golf Club recently, has been selected among four players for the Italian International under 16 Championship at Biella Golf Club on 2nd – 4th September. The other three are Alex Fitzpatrick (Hallamshire, Yorkshire), Rhys Nevin-Wharton (Sandiway, Cheshire) and Luke Northwood (Kenilworth, Warwickshire). Brown, only 13 years old, carded a two-under-par opening round of 70 to lead by three at South Moor then added a 74 before torrential rain and thunderstorms made the Durham course unplayable and the tournament was reduced to 36 holes. Fitzpatrick, 15, the younger brother of 2013 US Amateur champion Matthew Fitzpatrick, finished third in last year’s Douglas Johns Trophy but went two better this year, winning by one stroke. Nevin-Wharton, 16, finished tied third in the Northern Counties Boys Qualifying, fourth in the Sir Henry Cooper Junior Masters and equal fifth in the Cheshire Stroke Play Championship. Northwood, 15 (image copyright Leaderboard Photography), a member of the England Regional under 16 Coaching Squad for the West Midlands, finished runner-up in this year’s McGregor Trophy, the English Boys under 16 Championship, at Radcliffe-on-Trent and like Brown and Fitzpatrick, this will be his maiden overseas assignment for England Golf. The Italian under 16 Championship is played over 72 holes of stroke play with a cut after 36, the leading 40 players and ties qualifying for the final two rounds. 27 Aug 2014 England bank on Barclay for Italian job last_img read more