Why These 5 Stocks Are in the Spotlight on Monday

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1. Coinbase Global, Inc. (NASDAQ:COIN) is down 6.3% as of 10:47 AM ET after famous short-seller Jim Chanos announced that he is shorting the Wilmington, Delaware-based cryptocurrency exchange company. Chanos has termed Coinbase Global, Inc. (NASDAQ:COIN) a “bubble stock.” Coinbase went public in April 2021 and the stock is already down 25% since its IPO and down 48% from its all-time high. Chanos highlighted that there are numerous stocks in the new economy that offer high growth, real earnings, and cash flows, but some stocks are just in the news due to their stories. In his opinion, Coinbase Global, Inc. (NASDAQ:COIN) is one of those stocks that is being sold on a story. At the end of Q4 2021, 57 hedge funds held a stake in Coinbase Global, Inc. (NASDAQ:COIN).

You can also take a peek at the 10 Penny Stocks with Upcoming Growth Catalysts and 9 Best Clean Energy Stocks To Buy Today.

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