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Coinbase IPO Stock Price: From $250 to $356 in 5 Mins

The largest U.S.-based crypto exchange Coinbase was the first company specializing in cryptocurrencies to launch an IPO (Initial Public offering). Now Coinbase offers more than 50 cryptocurrencies to trade, including the most popular cryptocurrencies such as Bitcoin and Ethereum. Experts are wondering who will be placed second and when this information will go public amongst crypto exchange companies.

Coinbase (COIN) Stock Forecast

Coinbase will trade under the ticker COIN on the Nasdaq US market. The IPO rate is set at $250. Coinbase is offering 261.3 million shares outstanding when it goes public on Wednesday (today) 04/14/2021, giving it a market capitalization of nearly $68 billion. This is a steep rise from the private fundraising undertaken by Coinbase in 2018. This fundraising valued Coinbase at around $8 billion. Clearly, valuations and the underlying value of Bitcoin have moved on since 2018.

Coinbase has made it clear with the SEC in its listing documents that, during private transactions between January and March of 2021, shares in COIN traded at an average of $343.58.

The latest results from Coinbase show just how tied the company’s revenues are to the underlying crypto leader Bitcoin. As BTC doubled in price during the first quarter of 2021, Coinbase’s revenue also surged. COIN said revenue for Q1 2021 will likely be $1.8 billion versus $1.3 billion for the full year of 2020.

The Timeline

At the opening, it was expected to begin at $250. Due to high demand and people’s desire to buy at a higher price it was opened at $356. Now it is trading at $375. It is interesting to note that during the day COINBASE GLOBAL INC (COIN) even traded at $442. Our team at FINANCE BROKERAGE will continue to provide live updates regarding the Coinbase IPO and its stock price.

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