Stick With Companies Looking Forward Amid the Current Economic Slowdown

The market outlook is grim. Stocks continue to set new lows. Many companies are facing challenges. But a few are using this time of hardship to set themselves up for success when the economy turns around.

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  • While it can be challenging to look to the future when the present is fearful, growth must go on. And one sign of a great company is that it finds a new way to grow its business during a time of market fear when few want to make deals.

    One such opportunity is with cryptocurrency brokerage platform Coinbase Global (COIN). They’ve partnered with Google (GOOG) to allow for customers to pay for cloud services with cryptocurrencies.

    Given the size and scope of Google’s services, the potential is huge for both companies in the coming years. While it won’t develop into a massive amount of revenue overnight, it’s a sign forward for the crypto brokerage that’s been hit hard with the slowdown in crypto prices.

    Action to take: Shares of Coinbase are down nearly 75 percent in the past year. And revenue has slowed thanks to declining trading activity in crypto. But the company has a strong balance sheet, and is generating nearly $6 billion in revenue, even in a slowing environment.

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  • As the leading crypto brokerage, and a key one for institutional investors, it likely has more upside ahead. Investors who start accumulating shares at today’s prices will likely fare well in the next crypto bull market.

    For traders, the March 2023 $120 calls, last going for about $6.15, offer mid-double-digit returns on a rebound in shares in the coming months.


    Disclosure: The author of this article has no position in the company mentioned here, but may trade after the next 72 hours. The author receives no compensation from any of the companies mentioned in this article.

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