Is Coinbase Stock A Buy Below $300?

Kourtney Gibson of Loop Capital bought shares of Coinbase Global Inc COIN last week, she said Monday on CNBC's "Squawk Box."

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Gibson is not an investor in Bitcoin BTC/USD, she said, but when Coinbase dropped to $284 last week, she bought shares of the cryptocurrency exchange.

Gibson likes the ability to play the growth of Bitcoin via an exchange like Coinbase, she told CNBC. 

See Also: Turkish Ban May Be Bitcoin's Marketing Boon

What Happened: Coinbase went public on the Nasdaq on April 14 via direct listing. Shares of the popular cryptocurrency exchange closed at $328 after trading as high as $429 in the first day of trading. Since its direct listing, Coinbase shares have traded as low as $282. 

COIN Price Action: Coinbase was up 4.18% at $303.80 at last check Monday.

Photo courtesy of Coinbase.