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Coinbase IPO: Expert Shares Why Valuation Should Be 71% Lower

Photo by Steve Jennings/Getty Images for TechCrunch This story is available exclusively to Insider subscribers. Become an Insider and start reading now. Shares of Coinbase have been volatile since going public on Wednesday. New Constructs David Trainer said its valuation should be 71% lower than current levels. Trainer also said speculation around the stock is another indication of a broader bubble. The direct listing of Coinbase...
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