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Benzinga

Business

Adam Eckert

Jim Chanos Is Up Big On His Coinbase Short, But He's Not Cashing Out: How Much The Short Seller Expects The Cryptocurrency Play To Be Worth By Year End

Jim Chanos Coinbase Nasdaq Coinbase Global Inc CNBC

Kynikos Associates founder and legendary short seller Jim Chanos announced a short position in Coinbase Global Inc (NASDAQ:COIN) in March with the stock trading around $180 per share. Although the stock has been more than cut in half since, the short seller sees further downside ahead.

What To Know: Chanos initially shorted Coinbase on the basis that the company would not be able to maintain its high trading fees.

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One subscription that gives you access to news from hundreds of sites

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