Jim Cramer Notes Coinbase Stock is “Cheapest of the Group”

Coinbase Global, Inc. (NASDAQ:COIN) is one of the stocks on Jim Cramer’s radar. Cramer noted that it is the only crypto company in the S&P 500. He remarked:

“Finally, Coinbase means crypto. 52 million Americans have kept their crypto there, part of a hundred million users globally. It’s the only crypto company in the S&P 500, so it’s the perfect poster child for the group. Again, Coinbase, immensely profitable and at 40 times earnings, it’s actually the cheapest of the group. How can that be?”

Jim Cramer Notes Coinbase Stock is "Cheapest of the Group"

A shot of someone securely accepting crypto assets as payment, showcasing the company’s payment solutions.

Coinbase (NASDAQ:COIN) provides a platform for buying, selling, and managing crypto assets, offering tools for consumers, institutions, and developers to engage with the crypto economy. In a June episode, Cramer said that the company is going higher.

“Next, Coinbase. Alright, the cryptocurrency stocks, they just never want to quit. And this is a group that matters, even if older portfolio managers don’t care [and] look the other way. I think this one’s going higher, to who knows where.”

While we acknowledge the risk and potential of COIN as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than COIN and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.