In this article, we will take a look at the top 5 best volatile stocks to buy. For a detailed analysis of these companies, go directly to the 10 Best Volatile Stocks to Buy.
5. Coinbase Global, Inc. (NASDAQ: COIN)
Number of Hedge Fund Holders: N/A
Coinbase Global, Inc. (NASDAQ: COIN) is a Delaware-based company that operates a cryptocurrency exchange platform which facilitates dealings in Bitcoin and Ethereum as well as other big cryptocurrencies. It was founded in 2012 and is ranked fifth on our list of 10 best volatile stocks to buy. Coinbase went public earlier this year and was valued at over $86 billion on the first day of trading, but the share price has dropped since then amid a turbulent few weeks for the crypto industry in general which has seen Bitcoin price plummet too.
On May 14, Coinbase Global, Inc. (NASDAQ: COIN) stock was given an Outperform rating by investment advisory Piper Sandler. Coinbase shares have been soaring after a disappointing few weeks since the IPO after it reported quarterly earnings that just trailed market estimates despite a bearish trend for crypto stocks on the market. In the earnings report, the firm posted $1.6 billion in revenue in the first three months of 2021, missing market estimates of $1.8 billion. The earnings per share were $3.05 for the period against a predicted $3.20.