Shares of Coinbase Global Inc. were traded at an average price of about 350 USD each at a private auction held by Nasdaq, giving the San Francisco based crypto currency exchange a total valuation of about 90 billion USD, before the company goes public.
The Nasdaq Private Market auction ended last Thursday and is probably the last chance for investors to trade Coinbase stocks before its public listing, which is expected to go ahead in the end of March.
In the beginning of the auction some Coinbase shares were traded at a price above 375 USD, which would have given the company a total valuation exceeding 100 USD,
Total rev of $1.2 billion. Net income of $332 million after posting a loss in 2019.
Not too shabby!
Youâre referring to Coinbase?
Correct. Valued at $8 billion in 2018. Now nearing $100 billion. Wow!
That was at a private auction though, we donât know how realistic that was. Weâll have to wait for the actual public listing to be certain.
Yup, exactly. Could come back anywhere between $50-100 billion. But looks like the listing is pushed back into April.
https://www.bloomberg.com/news/articles/2021-03-20/coinbase-s-direct-listing-is-said-to-be-pushed-back-to-april
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I was wondering why itâs the last third of March and I hadnât heard anything about that listing happening.
Looks like the $67 billion valuation is based only on activity between Jan and Mar. That doesnât include employee ownership and some other stock. So most likely going higher.
News about Coinbaseâs listing - it will start trading on Nasdaq on April 14, under the ticker symbol COIN, after a SEC approval for its direct listing, in what may analysts consider to be a turning pint for the crypto currency industry.
The Securities and Exchange Commission (SEC) in the U.S. granted Coinbase regulatory clearance on Thursday, for what will be Nasdaqâs first major direct listing.
Definitely interested to see where this price ends up on day one. I think thereâs plenty of potential in the short term for investor interest. I donât know who can offer what theyâre offering, but the fact that rely heavily on fees might turn away some people. But itâs crypto, so⌠anything goes!