According to the official publication of Nasdaq, the reference stock price is set at $250 per Share.
Nasdaq has given Coinbase’s stock, COIN, a reference price of $250. The stock will officially be listed today, April 14.
Nasdaq has given Coinbase a reference stock price of $250, according to new information on the San Francisco-based exchange’s listing. Nasdaq listed the stock on April 14, after weeks of high anticipation.
The reference price was given as a result of regulation, which determines price when there has not been sustained trading in a private market. The exchange has been given a valuation of $90 billion, based on prior private sales.
Before Coinbase went public, it traded on the Nasdaq private market for about $343.5. There is a clear difference compared to the reference stock price of $250. Cryptocurrency derivatives exchange FTX traded Coinbase shares for over $ 600.
Mike McGlone, senior commodity strategist at Bloomberg, believes that Coinbase listings could have as much impact on the market as Tesla’s Bitcoin buying news as a tailwind for Bitcoin (BTC) to rise to $70,000.
#Coinbase IPO May Boost #Bitcoin to $70,000, Like #Tesla to $60,000 –
The lowest 30-day volatility since October indicates Bitcoin is ripe to exit its cage and bull-market continuation is favored for the next $10,000 move. Similar to Tesla's equity-wealth allocation to Bitcoin.. pic.twitter.com/DGZlJAZwWu
— Mike McGlone (@mikemcglone11) April 13, 2021
CNBC financial show host Jim Cramer anticipates the future of Coinbase, saying:
— Squawk Box (@SquawkCNBC) April 12, 2021
John Street Capital analyzes the financial report released by Coinbase. It points out that it is a company that is larger than the user base of Cash App and Venmo and is already making a big profit.
0/ The @coinbase team announced 1Q21 data including revenue of ~$1.8B, adj EBITDA of $1.1B, NI of $730-$800M, trading volume of $335B & assets on the platform of $223B (11.3% of cryptoasset market) with 56M users
Run-rate of $7.2B in revenue / $4.4B in EBITDA / $3.0B of NI. pic.twitter.com/1tGpNsIBFv
— John Street Capital (@JohnStCapital) April 6, 2021
Prior to listing on the Nasdaq, Coinbase granted more than 1,700 employees 100 shares per person.