Payne Capital Management President Ryan Payne joins Yahoo Finance Live to weigh in on the November jobs report, the volatility of cryptocurrencies, and Charles Munger's evaluation of the markets.
Given the amount of stocks that are down today, Coinbase is likely simply sinking with the entire stock market ship today. As of 11 a.m. ET, Coinbase stock was down 7%. According to Cathie's Ark (a website that's not affiliated with Ark Invest) the Ark Innovation ETF sold a little more than 170,000 shares of Coinbase yesterday.
Coinbase (NASDAQ: COIN) has a number of competitive advantages, including first-mover status as a cryptocurrency exchange and huge profit margins. In this segment of "The 5" on Motley Fool Live, recorded on Nov. 23, Fool contributors Taylor Carmichael and Jason Hall discuss why Coinbase is one of Taylor's favorite stocks, and why it has the potential to be a ten-bagger from here. Jason Hall: Taylor, this is one, I like this.