#7 - Coinbase (NASDAQ:COIN)
The only thing we know for sure about the Trump tariff policy is it will likely be disruptive to the U.S. dollar. Add to that rising bipartisan concern about the sustainability of the U.S. national debt and it’s not hard to understand why Bitcoin has surged to a new high. As of this writing, one Bitcoin was valued at over $93,000 which makes it, along with gold, one of the best-performing asset classes of 2024.
For many investors, investing directly in cryptocurrency is a non-starter. But Coinbase Global Inc. (NASDAQ: COIN) is a way to get exposure to this sector. And if Donald Trump makes good on his promise to establish a national Bitcoin reserve, you’ll want to at least consider a position in one of the world’s largest cryptocurrency exchanges.
COIN stock is up more than 86% in 2024 and most of those gains have come since September when the market began to forecast a Trump win. Significantly, short interest in COIN stock is down about 10% in the month ending November 19 and more institutional investors are becoming buyers.
About Coinbase Global
Coinbase Global, Inc provides financial infrastructure and technology for the crypto economy in the United States and internationally. The company offers the primary financial account in the crypto economy for consumers; and a marketplace with a pool of liquidity for transacting in crypto assets for institutions.
Read More - Current Price
- $296.20
- Consensus Rating
- Hold
- Ratings Breakdown
- 10 Buy Ratings, 9 Hold Ratings, 1 Sell Ratings.
- Consensus Price Target
- $255.22 (13.8% Downside)
Many long-term investors aren't terribly concerned about what Trump's tariff policy looks like. So it's important to note that many of the stocks on this list are cyclical with or without a Trump presidency. Therefore, these may be more attractive targets for traders.
That said, this is a trader's market. Buy-and-hold is always a viable strategy, but the larger gains from the Trump tariffs will be made by the nimble investors who have the risk tolerance to ride out short-term volatility.
MarketBeat doesn't take sides in the political arena (there's money to be made either way). But we do provide tools to help investors at whatever stage they are in their investing journey. Many of these tools are free, but one that is available to All-Access members is our Idea Engine.
The Idea Engine combines over two dozen algorithmic factors and technical indicators to identify stocks that are poised for near-term growth. It's a good place to start your own research. And if you're new to picking and/or trading stocks, this is an ideal way to start testing out strategies.
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