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from24/7 Wall St.
2 hours agoU.S. Consumer Spending Tops $21.86T: 5 Fintech Stocks Under $75
Fintech spending is rising while expensive pure-play valuations leave room for under-$75 alternatives with stronger bull-case asymmetry.
Bitcoin has also surprisingly underperformed the stock market, as it is only up by 6% year-to-date, but its 515% gain over the past five years bodes well for Coinbase's long-term prospects. Even with Bitcoin growth lagging the market and Coinbase doing the same, the company posted exceptional financial results in the third quarter. Revenue increased by 59% year-over-year while net income surged by 473% year-over-year. Coinbase wrapped up the quarter with a 24.12% net profit margin and only trades at a 24.5 P/E ratio.