Coinbase Global, Inc. (COIN): Yes, too late. We wouldn't buy it here.
Verdict as of .
Our model puts the odds of COIN being higher in three months at 9% (worse than a coin flip), and its three-month estimate is $142.29, 18.7% below today's $174.96. Buying now means paying more than we think it will be worth, so we wouldn't start a position at this price: a missed trade costs nothing, this one can.
Where we'd be wrong: We're wrong if COIN closes above $211.61 within three months, the top of our 90% forecast band. Above that our model under-called the move: our call failed, and we withdraw it.
The prices behind this verdict
Price today: $174.96. What one share costs right now: the price a buyer would actually pay today.
Odds it's higher in 3 months: 9%. How often our model expects this stock to be above today's price in three months. Below 50% means it leans down. It is a lean, not a certainty: 47% and 53% are both close to a coin flip.
Our 3-month estimate: $142.29. Where our model thinks the price sits in three months: the middle of our forecast, not a promise. Below today's price means buying now is paying more than we think it will be worth.
We're wrong above: $211.61. The top of our 90% forecast band. If the stock closes above it inside three months, our forecast was wrong: we under-called this move, and we withdraw this call.
Why: the risk checks behind the call
The overall market is in a friendly mood: passed (regime level 4)
Several independent signals agree: fired (the independent signals we require to agree before buying do not agree)
The strategy is not on a losing streak: skipped (not evaluated — signal already suppressed upstream)
This is not a near-copy of what we already hold: skipped (not evaluated — signal already suppressed upstream)
There is still room for another position: skipped (not evaluated — signal already suppressed upstream)
The stock is not expected to fall over the next month: skipped (not evaluated — signal already suppressed upstream)
No earnings report is uncomfortably close: skipped (not evaluated — signal already suppressed upstream)
Market fear is low enough to enter safely: skipped (not evaluated — signal already suppressed upstream)
The market as a whole is trending upward: skipped (not evaluated — signal already suppressed upstream)
The reward is big enough for the risk, at a sane position size: skipped (not evaluated — signal already suppressed upstream)
We are confident enough to publish this at all: skipped (not evaluated — signal already suppressed upstream)