Is Coinbase Global (COIN) One of the Most Volatile Stocks to Buy in S&P 500?

Coinbase Global, Inc. (NASDAQ:COIN) is included among the 10 Most Volatile Stocks to Buy in S&P 500.

Founded in 2012, Coinbase Global, Inc. (NASDAQ:COIN) is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies.

On June 1, B. Riley trimmed its price target on Coinbase Global, Inc. (NASDAQ:COIN) from $243 to $203, but maintained its ‘Neutral’ rating on the shares. The lowered target, which still reflects an upside of over 33% from the current price level, comes amid a softer near-term revenue backdrop and revised earnings power estimates.

Coinbase Global, Inc. (NASDAQ:COIN) recorded a second consecutive quarter of losses and fell behind Wall Street estimates in its Q1 report last month. The soft performance was a result of crypto-driven market volatility that sapped the company’s trading volumes during a period ​of broad digital-asset selloff.

However, despite the market being down, Coinbase continued to gain market share globally and reached a new all-time high. Moreover, it is the largest distributor of USDC, with more than 25% of all USDC held in its products.

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