![]() ![]() Profit takers eventually sent shares falling 27% to a low of US$310, before it closed the day at US$328.28. Taking into account 261.3 million fully diluted shares, the company's market cap exceeded US$100 billion, which dwarves the US$8 billion threshold it reached at the end of 2018 in a private funding transaction. Shares surged to a high of US$429 within minutes after it started trading, far above the reference price of US$250 the Nasdaq had previously communicated. Private investors and employees can immediately sell their shares on the public market, which can lead to significant volatility.Īnd that volatility materialised. ![]() That mechanism bypasses the cumbersome IPO process. In contrast with a traditional initial public offering (IPO) where companies issue new shares to raise cash, Coinbase elected to propose its shares via a direct listing on the Nasdaq exchange. On Wednesday, shares of the cryptocurrency exchange platform Coinbase Global traded for the first time on the public market. Investors should take into account the company's lofty valuation before considering buying the stock.The company's market cap topped US$100 billion.Shares surged to a high of US$429 before falling to US$381 at the close.Coinbase proposed its shares via a direct listing process on Wednesday.The exchange platform's stock price surged at the open, but hyper volatility kept investors guessing. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |