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Should You Buy Coinbase Stock As Bitcoin Prices Stabilize?
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At $225, Coinbase Stock Is A Solid Bet On The Crypto Future
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Coinbase is expected to report earnings for the first time since its direct listing in mid-April.
Ark analyst Yassine Elmandjra shares how the stock could scale to the $2.5 trillion crypto market.
New Constructs CEO David Trainer breaks down why the stock could actually fall below $100 or less.
All eyes are on Coinbase as the largest US crypto exchange is expected to report its first earnings report as a public company after the market closes on Thursday.
At its hotly anticipated public debut on April 14, shares of Coinbase, which opened at $381, hit an intraday high of $429.54 before ending the day at $328.28, giving it a market cap of about $86 billion.
Coinbase
Coinbase executives and investors saw the value of their shares skyrocket as a result.
At Wednesday s closing price of $328.28, two top execs shares are now worth a combined $957 million.
Coinbase, one of the world s most popular and earliest cryptocurrency exchanges, made its public market debut on Wednesday, riding the wave of mainstream investors growing interest in digital currencies.
Coinbase s highly anticipated direct listing resulted in its shares closing at $328.28 on Wednesday, giving the company a valuation of $85.7 billion around 10 times what it was last valued at as a private company, according to PitchBook.
That s up 31.3% from Coinbase s reference price of $250. But because it opted for a direct listing, no shares traded at that price, instead opening at a price of $381.
Coinbase tumbles 19% in trading debut as valuation hovers around $100 billion
Emily GraffeoApr 16, 2021, 01:01 IST
Coinbase CEO Brian ArmstrongAnthony Harvey / Stringer
Coinbase on Wednesday tumbled as much as 19% in its trading debut on the Nasdaq.
The
direct listing had a $250-per-share reference price, and opened at $381 before hitting an intraday high of $429.54. It then reversed gains, trading as low as $310.
Coinbase is the first major cryptocurrency exchange to go public.
Shares of Coinbase tumbled as much as 19% on Wednesday in its hotly anticipated trading debut on the Nasdaq before paring back gains.
The direct listing had a $250-per-share reference price, and opened at $381 before hitting an intraday high of $429.54, which was 13% above its opening price.
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