The stocks of the first major cryptocurrency company to be listed on an exchange surged in their market debut
Coinbase began trading yesterday afternoon at $381 per share, a 52% increase over the $250 reference price set by NASDAQ. However, during the day, it lost some momentum, and closed the session at $328.28, giving the company a valuation of $85.7 billion, ten times higher than its last valuation as a private company.
The company’s debut caused a market frenzy. Days ahead of the event, Bitcoin price hit a record of $64,000, double the value reported at the beginning of the year.
At the moment of writing, Coinbase stock price is trading more than 7% higher.
Sources: nytimes.com, cnbc.com
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.