Why Coinbase $100B IPO Valuation Is 'Ridiculous'
According to market research firm New Constructs, the Coinbase stock offering will be severely overvalued at the time of its IPO. What Happened: According to a report published by a market research New Constructs, despite Coinbase's revenue climbing ever higher over the past 12 months, "the company has little-to-no-chance of meeting the future profit expectations that are baked into its ridiculously high expected valuation of $100 billion." The authors of the report explain that the crypto market is still very young, and many more companies will compete with Coinbase in the future, which w...