One Week After Listing, How is Coinbase’s COIN Doing On Nasdaq?

Coinbase’s reference price of $250, received ahead of the Nasdaq direct listing, values a “thank you” gift to all 1,700 full-time employees at $25,000. Major U.S. exchange Coinbase’s COIN stock has received a reference price at $250 from Nasdaq, ahead of the much-anticipated direct listing on the stock exchange just hours from now.The price is far below the current FTX pre-trading price of $600, albeit on thin 24-hour volume of under $4 million.The exchange is going public via a direct listing instead of an IPO, meaning the reference price is not a direct indicator of the company’s market....

Coinbase’s largest investors — Andreessen Horowitz, Union Square, Ribbit Capital — have already roped in multi-billion-dollar profits. April 14 was considered by many crypto enthusiasts all over the world as a watershed moment for the digital asset industry, as it marked the day when Coinbase, one of the largest crypto trading platforms in the world, made its debut on Nasdaq via a direct listing. As one can imagine, the lead up to the moment was replete with a market-wide surge, with Bitcoin (BTC) scaling up to a price point of $64,800 a day before the listing went live.In the run-up to....

From price volatility to becoming the most valuable U.S. exchange, here is how well Coinbase’s first day of trading tracks with other companies. American crypto exchange giant Coinbase went public on Wednesday with a direct listing on Nasdaq.The company’s performance on day one has been hailed as being positive overall, with Coinbase becoming the most valuable exchange in the United States ahead of legacy players such as the Chicago Mercantile Exchange.Coinbase’s first day of trading was seen by market commentators as a watershed moment for the crypto space, but how does its performance....

Coinbase’s direct listing will most likely set a precedent for other crypto firms, as COIN stock may rival Bitcoin for popularity. After an extended period of speculation as to when Coinbase would finally go live with its public stock listing, the United States-based cryptocurrency exchange released a blog post earlier this month stating that it had registered with the U.S. Securities and Exchange Commission to hold a direct listing on Nasdaq on April 14.In this regard, Coinbase’s Class A common stock is expected to trade on the Nasdaq Global Select Market under the ticker symbol “COIN.”....

Early price action from the Coinbase stock listing on the Nasdaq reveals volatile reaction from traders. Trading has already begun on Coinbase’s COIN stock on the Nasdaq after weeks of anticipation following the U.S. exchange giant’s direct listing announcement.COIN began trading significantly higher than the $250 reference stock price assigned by Nasdaq prior to the market open, rising quickly to around $430. The price fell sharply within the first few minutes of trading however, and sits at $381 at time of publication.Even so, COIN is up about 55%, putting the U.S. crypto exchange....