5 NFT Stocks to Buy According to Reddit

Page 5 of 5

1. Coinbase Global, Inc. (NASDAQ:COIN)

Number of Hedge Fund Holders: 50

Coinbase Global, Inc. (NASDAQ:COIN) is a digital American company that offers a cryptocurrency exchange platform, where users can buy and sell their desired currencies in secure transactions. 

Coinbase Global, Inc. (NASDAQ:COIN) is one of the most popular NFT stocks to buy according to Reddit, since the company is launching an NFT marketplace soon, and has already opened its waitlist for exclusive access to the launch of its first collectibles. Individuals can mint, collect, discover, and exhibit their NFTs on Coinbase Global, Inc. (NASDAQ:COIN) platform, all in one place.

BofA analyst Jason Kupferberg on January 6 upgraded Coinbase Global, Inc. (NASDAQ:COIN) to Buy from Neutral with an unchanged price target of $340. The analyst notes increasing signs of revenue diversification at Coinbase Global, Inc. (NASDAQ:COIN) other than retail crypto trading and believes that this trend could accelerate in 2022 and beyond. 

Coinbase Global, Inc. (NASDAQ:COIN) is a popular stock among the smart money, with 50 hedge funds in the third quarter holding stakes worth approximately $3 billion in Coinbase Global, Inc. (NASDAQ:COIN). One of the largest stakeholders of the company is Chase Coleman’s Tiger Global Management, with 2.6 million shares, valued at $608.8 million. 

Here is what Hayden Capital has to say about Coinbase Global, Inc. (NASDAQ:COIN) in its Q3 2021 investor letter:

“Coinbase (COIN): We established a new position in Coinbase, the dominant US crypto exchange and brokerage, this quarter. Given the misperceptions and early-stage nature of the industry, I thought it would be helpful for our partners’ understanding to share a report outlining our thesis, which we published on October 31st.

At a high level, we believe the crypto economy is in the middle of “crossing the chasm” into mainstream adoption & use cases, which will result in millions of mainstream users needing to transact in crypto in some form.

Coinbase is well positioned in the Western, regulated markets to capture this influx – considering their dominant market share / mindshare, their focus on the casual user and thus superior user experience compared to alternatives, and their position as a “toll-booth” for this industry. Longer-term, we also believe Coinbase has “super-app” ambitions, and will be the primary gateway for both the general population and institutions to interact with the crypto economy…” (Click here to see the full text)

You can also take a look at 10 Metaverse Stocks to Invest In and 10 Best Multibagger Stocks To Buy Now.

Follow

Page 5 of 5