Yesterday, Coinbase began trading on the Nasdaq Stock Exchange under the ticker COIN. At the close of trading, the share price was $ 328.28, and the exchange capitalization reached $ 85.7 billion.
The Nasdaq has lowered Coinbase’s MSRP from $ 300- $ 350 to $ 250. However, this did not prevent trading from starting at $ 381 and reaching $ 429.54 at the moment. Then the stock price began to decline and fell to $ 310 in the last hour before the close of trading. At the close of trading, the rate was $ 328.28 per share.
Coinbase has completed the largest direct public listing ever. The capitalization of the cryptocurrency exchange has significantly surpassed the performance of companies such as Roblox ($ 38.3 billion), Spotify ($ 29.5 billion) and Palantir ($ 21 billion).
As a reminder, Russian users can also buy Coinbase shares. For example, users of Tinkoff and VTB banks applications. The cryptocurrency exchange Binance also launched trading in tokenized shares of Coinbase.
It is expected that in the first quarter of 2021, Coinbase’s profit will reach $ 1.8 billion, while the net income of the cryptocurrency exchange will be from $ 730 million to $ 800 million.
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