Coinbase Wows In Nasdaq Debut Amid Cryptocurrency Frenzy By Daniel HOFFMAN
on April 15 2021 10:14 AM
Cryptocurrency exchange Coinbase made a dramatic stock market debut Wednesday amid frenzied interest in bitcoin and other virtual currencies despite concerns about a bubble.
The enterprise, the first company devoted entirely to cryptocurrency to enter the US stock exchange, debuted on the market well above its reference price and quickly rocketed higher before pulling back somewhat.
The premier went successfully, said Art Hogan, chief market strategist at National Securities. We ll have to see how this plays out and then see if this particular publicly traded stock is as volatile as the cryptocurrencies that it transactions.
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Coinbase amazes in NASDAQ debut
WATERSHED MOMENT? Wedbush Securities Inc analyst Daniel Ives said Coinbase is a crucial piece of the crypto ecosystem and an indicator of mainstream adoption
AFP, NEW YORK
Cryptocurrency exchange Coinbase Global Inc on Wednesday made a dramatic stock market debut amid frenzied interest in bitcoin and other virtual currencies, despite concerns about a bubble.
The enterprise, the first company devoted entirely to cryptocurrency to list on a US stock exchange, debuted on the NASDAQ Composite at US$381 per share, 52 percent above its reference price, and rose as high as US$429.54 before finishing the day at US$328.28.
Coinbase to be listed on Nasdaq in cryptocurrency milestone
The biggest US virtual currency exchange will be listed, following record Bitcoin highs. The listing marks a turning point for cryptocurrency, once considered an obscure investment prospect.
Coinbase was recently charged with market manipulation and misleading information
Coinbase, the biggest US cryptocurrency exchange, is set to list on the Nasdaq on Wednesday, marking a milestone in the economic journey of virtual currencies.
The listing is the biggest yet of a cryptocurrency company, with the San Francisco-based firm saying last month that private market transactions made the company valued at around $68 billion (€57 billion) this year, versus $5.8 billion in September.