Coinbase Global, Inc. is the most well-known cryptocurrency stock. The stock has dropped drastically from a record high of $429 per share on April 14 after a record debut in April. It is now worth about $251 per share. As the price of Bitcoin climbs again, crypto equities like Coinbase Global, Inc. are making a comeback. In April, Bitcoin reached a new high of $64,000 before plummeting to below $40,000 in a few weeks. The coin is currently worth about $55,000. On Thursday, the stock of Coinbase Global, Inc. fell to a new low. Despite the setback, hedge funds are generally enthusiastic about the company. COIN has $2.9 billion in hedge fund holdings at the end of the second quarter of 2021.
Here is Insider Monkey’s list of the 10 stocks better than Coinbase according to hedge funds. American Express Company is ranked tenth. The company offers charge and credit card payment options. Bank of America upgraded the stock of American Express Company from Underperform to Neutral. The Bank of New York Mellon Corporation is ranked ninth. The company offers a wide range of financial goods and services. The company’s headquarters are in New York. KKR is a private equity and real estate investment corporation based in New York. On October 7, Jefferies reintroduced coverage of KKR & Co. Inc. with a Buy rating. On the list of 10 stocks that are better than COIN, the company is ranked eighth. Ally Financial Inc. is a bank holding corporation based in Michigan. On the list of 10 stocks that are better than COIN, it is ranked seventh. Ally Financial’s stock has a Buy rating from Citi, with a price target of $63 up from $59. CME Group Inc. is ranked sixth. The company is based in Illinois and works in the financial exchanges market. Atlantic Partners, an investment advising firm, recently upgraded CME from Neutral to Overweight. For more details, click 10 Stocks Better Than Coinbase According To Hedge Funds.
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