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HomeCrypto NewsWhy Kevin O'Leary Named Coinbase His Top Stock For 2022 | Benzinga

Why Kevin O’Leary Named Coinbase His Top Stock For 2022 | Benzinga

Coinbase Global Inc (NASDAQ:COIN) has struggled to search out its footing since making its public debut in 2021.

“Shark Tank” investor and O’Shares ETFs chairman Kevin O’Leary named the inventory his prime choose for 2022 following its underperformance final yr.

“If you need to play within the crypto and digitization of funds universe, you need to discover the exchanges which can be detached to volatility,” O’Leary stated Friday on CNBC’s “Fast Money Halftime Report.”

Volatility is sweet for Coinbase’s prospects, he stated, including that the corporate picks up foundation factors on trades no matter value.

“My theme on crypto is not simply purchase Bitcoin,” O’Leary stated. Instead he goals to search out public corporations with change licenses.

“The primary, proper now, guess that is public stateside is Coinbase,” he added.

See Also: Coinbase Buys Derivatives Exchange FairX, Describes The Move As A ‘Stepping Stone’ To Offering Crypto Derivatives In US

O’Leary famous that he added to his current Coinbase place right this moment. “Boy, has that inventory corrected — good entry level right here,” he emphasised.

“If you need publicity to this principle of … selecting up foundation factors no matter value, you have to go picks and shovels, you have to go infrastructure,” O’Leary stated. “That’s why I’ve a really constructive place in Coinbase.”

COIN Price Action: Coinbase has traded as little as $208 and as excessive as $429.54 since its direct itemizing in April.

The inventory was down 2.03% at $223.60 Friday afternoon.

Photo: courtesy of Coinbase.

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