Coinbase Global (COIN): 'For All I Know It's A Pump And Dump, I Don't See Anybody Dumping?' Says Jim Cramer
Coinbase Global, Inc. (NASDAQ:COIN) is a cryptocurrency exchange whose 57% year-to-date share price gain has resulted from legislation benefiting stablecoins and the bullish run in Bitcoin. Cramer's previous comments about Coinbase Global, Inc. (NASDAQ:COIN) asserted that the firm has benefited from its large market share. This time, he discussed Coinbase Global, Inc. (NASDAQ:COIN)'s valuation:
'[On Cantor going to $500] I think that's within reason. PE's of these companies, this is the lowest one in park, at 40 times earnings, well Robinhood's not that low yet, I mean not that high. I mean People have to understand P/E analysis is not working. Robinhood's at 62 times earnings. COIN is at 40 times earnings. And people will say, uh, Jim, the multiple's too high. And I come back and say, do you really think the retail investor knows what a multiple is? Like what are you like, some sort of abstraction? See, this is a new world. I'm realistic. Look, for all I know it's a pump and dump, I don't see anybody dumping? I'll tell you when it's over. When the insiders do big deals and sell. And when there's secondaries. And there haven't been. That's what caused 2014. That's what caused it to end. 2020. That's what caused it to end. I mean, 2000. That's what caused it. 2000 being the vicious number of secondaries between January and March of 2021 and also about 2020. These years were just horrendous. And these companies broke down. I'm waiting for that. But it's not happening. So I wanna give people my history. Which is that it should have happened by now. Like Karp should have been selling and the companies should have been raising money. But they don't need to. These companies are incredibly well capitalized. And when people want to try and say, you know what they're like what happened to the dotcoms, I remember the dotcoms. They didn't have any money.'
While we acknowledge the potential of COIN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the .
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
23 minutes ago
- Yahoo
Celcuity (CELC) Skyrockets 167% on Breast Cancer Treatment Trial
We recently published . Celcuity Inc. (NASDAQ:CELC) is one of the best-performing stocks on Monday. Celcuity soared by 167 percent on Monday to close at $36.79 apiece as investors cheered positive results in its clinical trial for its breast cancer treatment candidate. In a statement on Monday, Celcuity Inc. (NASDAQ:CELC) said it achieved positive topline results from the phase 3 clinical study of gedatolisib combined with palbociclib and fulvestrant—an experimental treatment for adults with two kinds of breast cancer. Called the gedatolisib triple, the three-drug combination reduced risk progression and death by 76 percent as compared with taking fulvestrant alone. Meanwhile, its gedatolisib double, which combines gedatolisib and fulvestrant, lowered the risk of progression and death by 67 percent, also achieving primary endpoints. Celcuity Inc.'s (NASDAQ:CELC) clinical trial success bolsters its chances of filing an approval with the Food and Drug Administration by the fourth quarter of the year. Copyright: bialasiewicz / 123RF Stock Photo Following the results, Celcuity Inc. (NASDAQ:CELC) earned a whopping $60 price target from Leerink, a marked increase from the $28 target previously. It also maintained an 'outperform' rating on its stock. While we acknowledge the potential of CELC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
24 minutes ago
- Business Wire
AGC Biologics' Heidelberg Site Supplies Drug Substance for Phase II Studies of Valneva's Tetravalent Shigella Vaccine Candidate
SEATTLE & HEIDELBERG, Germany--(BUSINESS WIRE)-- AGC Biologics, your friendly CDMO expert, today announced a development and manufacturing services agreement with specialty vaccine company Valneva SE (Nasdaq: VALN; Euronext Paris: VLA) to supply drug substance for an investigational four-valent Shigella bioconjugate vaccine at the CDMO's Heidelberg facility. Valneva exclusively licensed the vaccine candidate from LimmaTech Biologics AG, which previously worked with AGC Biologics to establish GMP-compliant manufacturing and quality control of the vaccine's complex protein-polysaccharide conjugates for first-in-human studies. The objective of the new partnership with Valneva is to establish phase II supply relying on the ability of AGC Biologics' Heidelberg site to guide complex molecules through clinical stages. Valneva and LimmaTech announced the launch of a Phase 2 infant study in April, and a Phase 2b Human Challenge Study (CHIM) in November 2024. Shigellosis is the second leading cause of fatal diarrheal disease worldwide, strongly contributing to pediatric morbidity and mortality. It is estimated that up to 165 million infections are due to Shigella, of which 62.3 million occur in children younger than five years. Developing an effective vaccine to prevent this deadly disease is a public health imperative for many areas of the world. "Our site's unique ability to handle complex molecules and multi-valent assets can help this potentially life-saving program reach its next clinical milestone," said Dieter Kramer, Senior Vice President and General Manager, AGC Biologics Heidelberg. "We appreciate Valneva entrusting our team of experts with this challenge and are honored to contribute to efforts that aim to prevent millions of deadly infections in the future." AGC Biologics runs multiple cGMP microbial fermentation lines at its Heidelberg facility. The site has produced biologics products for 40 years. It offers developers freedom-to-operate strain development, proven experience with different bacterial and yeast systems, proprietary plasmid DNA (pDNA) and messenger RNA (mRNA) platforms, large-scale tanks for late-phase protein refolding, the ability to take on early-phase and fast track projects, and late-phase and commercial expertise. To learn more about the microbial system-based biologics, pDNA and mRNA manufacturing site in Heidelberg, visit For more information on AGC Biologics' global CDMO services across all modalities, go to About AGC Biologics AGC Biologics is a leading global biopharmaceutical Contract Development and Manufacturing Organization (CDMO) with a strong commitment to delivering the highest standard of service as we work side-by-side with our clients and partners, to provide friendly and expert services. We provide world-class development and manufacturing of mammalian and microbial-based therapeutic proteins, plasmid DNA (pDNA), messenger RNA (mRNA), viral vectors, and genetically engineered cells. Our global network spans the U.S., Europe, and Asia, with locations in Seattle, Washington; Boulder and Longmont, Colorado; Copenhagen, Denmark; Heidelberg, Germany; Milan, Italy; and Chiba and Yokohama, Japan. We currently employ more than 2,600 Team Members worldwide. AGC Biologics is a part of AGC Inc.'s Life Science Business. The Life Science Business runs 10+ facilities focused on biopharmaceuticals, advanced therapies, small molecule active pharmaceutical ingredients, and agrochemicals. To learn more, visit
CNBC
26 minutes ago
- CNBC
Ether treasury companies are just getting started, could own 10% of coin one day, says Standard Chartered
The last three months in crypto have brought a new wave of public companies pursuing crypto treasury strategies with ether – and they're not likely to slow down anytime soon, according to Standard Chartered. The trend has emerged as positive regulatory momentum has boosted interest by institutions and brands alike in stablecoins and tokenization of traditional assets – activity largely powered by the Ethereum network – which has been driven by positive regulatory momentum for the crypto industry. Since the start of June, ether accumulators have purchased 1% of the coin in circulation. In a note Tuesday, Standard Chartered's Geoff Kendrick pointed out that that's double the pace of bitcoin buying by corporate treasuries – and that the trend is just getting started. "ETH corporate treasuries can capture both staking rewards and decentralized finance (DeFi) leverage opportunities, which U.S. Ethereum ETFs currently cannot," he said. "As such, we think ETH treasury companies have even more growth potential than BTC ones from a regulatory arbitrage perspective. We think they may eventually end up owning 10% of all ETH, a 10x increase from current holdings." If the flows into treasury companies continue, he added, ether could break $4,000 – historically a challenging level for investors psychologically and technically – by the end of the year. The largest of these companies, Bitmine Immersion Technologies , holds 0.5% of the ether in circulation and has a goal of increasing its holdings to 5%, Kendrick noted, and it's likely other entrants will also join this cohort. "In the Bitcoin treasury space, it took several years for MSTR to spawn significant buying by imitators. For ETH this is likely to happen more quickly, as the broader concept of corporate holdings of digital assets is already accepted," he said. "If BMNR can achieve its goal of increasing its ETH holdings to 5% of the total in circulation, then it is fair to assume that ETH treasury companies as a whole will end up holding more than 10% of all ETH in circulation," he added. "This would be a 10x increase from today's corporate treasury holdings." SharpLink Gaming , whose board is chaired by Ethereum co-founder Joe Lubin, was one of the first to make the move. Bit Digital in June exited bitcoin mining to focus on its ETH treasury and staking plans. Most recently, The Ether Machine revealed plans to go public later this year through a SPAC with Dynamix . —CNBC's Michael Bloom contributed reporting.
