From Nasdaq:

In a recent analysis, Zacks Equity Research named Coinbase as the “Bull of the Day” and Hertz Global Holdings as the “Bear of the Day.” Coinbase is the largest domestic cryptocurrency exchange, offering various digital assets for trade. As for Hertz, the multinational car rental company faces challenges such as poor fleet allocation, declining earnings growth, and industry disruption.

The U.S. Securities and Exchange Commission recently approved eleven Bitcoin ETFs, making it the most successful ETF launch in history. Fidelity’s and BlackRock’s Bitcoin ETFs have exceeded expectations, with Coinbase as the custodian for nearly every Bitcoin ETF, positioning itself for significant benefits.

Legendary value investor Seth Klarman noted that while he avoids crypto, he sees value in Coinbase due to its strong balance sheet and smart business decisions. Coinbase had its best year in 2023, swinging to profit and aiming for massive EPS growth in 2024.

On the other hand, Hertz announced a reduction in its Tesla EV fleet due to profitability issues. Earnings growth for Hertz has been declining, with Zacks Consensus Estimates reflecting negative growth. Industry disruption, such as the rise of peer-to-peer car-sharing platforms like Turo, further impacts Hertz’s outlook negatively.

The natural gas market faces challenges of excess supply and weak demand, resulting in lower-than-expected inventory withdrawals. Chesapeake Energy’s production cut for 2024 contributed to fluctuations in natural gas prices and market sentiment. Investors are advised to focus on companies like Coterra Energy and Cheniere Energy in the current market conditions.



Read more at Nasdaq: Coinbase and Hertz Global have been highlighted as Zacks Bull and Bear of the Day