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OFFON

COINBASE GLOBAL, INC.

(COIN)
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The Law Offices of Frank R. Cruz : Announces Investigation of Coinbase Global, Inc. (COIN) on Behalf of Investors

07/24/2021 | 11:01am EDT

The Law Offices of Frank R. Cruz announces an investigation of Coinbase Global, Inc. (“Coinbase” or the “Company”) (NASDAQ: COIN) on behalf of investors concerning the Company’s possible violations of federal securities laws.

If you are a shareholder who suffered a loss, click here to participate.

Coinbase is the largest cryptocurrency exchange in the U.S. In April 2021, Coinbase became a public company after registered the resale of nearly 114.8 million shares of its Class A common stock by registered shareholders. The offering materials stated that Coinbase is “powered by a robust backend technology system” and that it had “grown quickly and in a capital-efficient manner since [its] founding.”

On May 17, 2021, Coinbase announced a $1.25 billion convertible bond sale. Forbes.com noted that “[i]nvestors were also likely surprised by the timing of the issue, considering that Coinbase just went public in mid-April via a direct listing (which doesn’t involve issuing new shares or raising capital), signaling that it didn’t require cash.”

On this news, Coinbase’s stock fell $9.24, or 3.7%, to close at $239.00 per share on May 18, 2021, thereby injuring investors.

Then, on May 19, 2021, Coinbase announced technical problems, including “delays…due to network congestion” affecting those who wanted to withdraw their money.

On this news, Coinbase’s stock price fell $14.20, or 6%, to close at $224.80 per share on May 19, 2021, thereby injuring investors further.

Follow us for updates on Twitter: twitter.com/FRC_LAW.

If you purchased Coinbase securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to info@frankcruzlaw.com, or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.


ę Business Wire 2021
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Analyst Recommendations on COINBASE GLOBAL, INC.
More recommendations
Financials (USD)
Sales 2021 6 921 M - -
Net income 2021 2 994 M - -
Net cash 2021 3 711 M - -
P/E ratio 2021 19,6x
Yield 2021 -
Capitalization 50 298 M 50 298 M -
EV / Sales 2021 6,73x
EV / Sales 2022 7,37x
Nbr of Employees 2 176
Free-Float 54,7%
Chart COINBASE GLOBAL, INC.
Duration : Period :
Coinbase Global, Inc. Technical Analysis Chart | COIN | US19260Q1076 | MarketScreener
Technical analysis trends COINBASE GLOBAL, INC.
Short TermMid-TermLong Term
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Last Close Price 236,53 $
Average target price 335,53 $
Spread / Average Target 41,9%
EPS Revisions
Managers and Directors
Brian Armstrong Chief Executive Officer & Director
Alesia J. Haas Chief Financial Officer
Fred Ehrsam Director
Frederick R. Wilson Director
Kathryn Haun Director
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