June 15, 2023

3 Tech Stocks to Sell in June Before They Crash and Burn

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Coinbase (COIN)

Source: Sergei Elagin / Shutterstock.com

In the realm of high-risk stocks, Coinbase (NASDAQ:COIN) is continuing to perch precariously. Its stalling performance and stagnant value paint a gloomy picture.

Its sales have deflated alarmingly, plummeting by nearly 37% from $1.16 billion in the first quarter of 2022.

The year 2023 heralded a comeback for cryptocurrencies, with investors flocking to stalwarts such as Bitcoin, seeking shelter from the slowing interest rate hikes and seeking a hedge against the current financial turmoil.

However, Coinbase seems to be on the sidelines of this resurgence. Rather than reaping the benefits of increased capital inflows into the sector, it’s grappling with the potential threat of an SEC enforcement action.

Key components of its operation, including core trading functions, interest-bearing service, institutional trading solutions, and others, are under the scanner.

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