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?”

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

Coinbase 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.”

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This article is originally published at Insider Monkey.