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5 days agoA well known short-seller swings and misses at SoFi | Fortune
Muddy Waters accused SoFi of accounting manipulation, but the market response suggests the allegations may be unfounded.
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.