Coinbase valued at close to $100 billion in its Nasdaq debut
Posted on AllSides April 14th, 2021
From The Center
Coinbase shares opened at $381 on the Nasdaq Wednesday morning, giving the cryptocurrency exchange an initial market cap of $99.6 billion on a fully-diluted basis.
Shares quickly shot up as high as $429, valuing the company at $112 billion, before dropping back below the debut price and reaching a low of around $352. The price was still well above the reference price of $250 set on Tuesday night, though no shares changed hands at that price.
Skirting the traditional IPO process, Coinbase listed its stock directly, allowing employees and existing...
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