Happy Coinbase Day, Blockfolians! The Lede After a ton of anticipation, Coinbase finally went public via direct listing today. Trading didn’t start until early afternoon and when it did, $COIN went straight up…. And then straight down. One of the things that differentiates direct listings from IPOs is the potential for volatility. Shareholders don’t have lockups. Big institutional investors don’t have an incentive to defend a certain price. Things can get wild.
Coinbase Pops Then Drops
Coinbase Pops Then Drops
Coinbase Pops Then Drops
Happy Coinbase Day, Blockfolians! The Lede After a ton of anticipation, Coinbase finally went public via direct listing today. Trading didn’t start until early afternoon and when it did, $COIN went straight up…. And then straight down. One of the things that differentiates direct listings from IPOs is the potential for volatility. Shareholders don’t have lockups. Big institutional investors don’t have an incentive to defend a certain price. Things can get wild.