By Harry B. - Crypto - 15-04-2021
From market fluctuations to being the foremost valuable U.S. exchange, here's how Coinbase's first day of trading compares to that of other firms.
Coinbase, a major cryptocurrency exchange platform within the United States, went public on Wednesday with an instantaneous listing on NASDAQ.
Coinbase stock, which trades under the ticker "COIN," opened at $381, which was substantially more than the $250 pre-listing reference price.
On a rocky and volatile first day, COIN hit a high of $429.54 before falling to $310.44. Coinbase stock closed at $328.28 on the primary day of trading. In terms of valuation, Coinbase currently includes a diluted market capitalization of $85.8 billion. The market cap puts the corporation over $10 billion before the CME, America's second-most profitable exchange.
Coinbase's NASDAQ listing, like Facebook's almost a decade ago, was arguably a massive win for the securities market.
In May 2012, the social media behemoth went public with an initial public offering on the NASDAQ. Facebook's first trading day, like Coinbase's, saw wild stock price activity, possibly down to the listing coincided with a decline within the U.S. stock exchange.
An 18% increase within the Facebook stock price on the rear of initial excitement quickly gave thanks to a significant decline. At the tip of the primary day, Facebook was trading just $0.23 above its IPO price.