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Impressive market debut for Coinbase

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Miguel A. Rodriguez
Miguel A. Rodriguez
15 Aprilie 2021
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.

Find out more about Coinbase’s direct listing here and here!

Sources: nytimes.com, cnbc.com

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Miguel A. Rodriguez
Miguel A. Rodriguez
financial_writer

Miguel a lucrat pentru instituții financiare importante, precum Banco Santander și Banco Central-Hispano. De asemenea, a publicat cărți despre Forex.