Nasdaq Sets Reference Price for Coinbase’s COIN Stock at $250

COIN, the ticker symbol of the class A stock of cryptocurrency exchange, Coinbase, has received a reference price of $250 from Nasdaq.

April 14, 2021 | AtoZ Markets Coinbase cryptocurrency exchange will be listed on the Nasdaq stock exchange today under the ticker COIN with a reference price set at $250.

According to a notice issued by Nasdaq, the recommended price was set after consultation with financial advisors, and taking into account the closed pre-sale of the shares. There were also no large-scale private sales of shares. At the same time, the recommended price may differ from the actual one at the time of the listing of shares.

Please note that the suggested price is not the offer price. Nobody bought or sold shares at this price. The actual price will be determined based on the buy and sell orders at the time of the opening of trading,”- said in the notification Nasdaq.

Recall that 255 million shares of Coinbase should enter the market, which, taking into account the recommended price, gives the exchange capitalization of $63.7 billion. futures is $607.

If such a price is established on the Nasdaq, then the capitalization of the cryptocurrency exchange will be $154.7 billion. If such a price is established on the Nasdaq, then the capitalization of the cryptocurrency exchange will be $154.7 billion.At the same time, according to preliminary forecasts, Coinbase’s profit for the first quarter of 2021 will be $1.8 billion.

On April 11, the Binance cryptocurrency exchange launched trading in tokenized Tesla shares. Trading volume in three days was $6.7 million. Coinbase shares will be the second tokenized shares on Binance, with trading starting the same day as on the Nasdaq Stock Exchange. Tokenized shares are traded in tandem with BUSD’s own stablecoin.

Russian brokers also offer to buy Coinbase stock. For example, they will be available for trading on the Tinkoff bank platform, with the preliminary share price set at $375 – perhaps the broker chose not to lower the previously established preliminary price.

In addition, VTB Bank offers to invest in shares of the American stock exchange through the My Investments application. The recommended share price is not listed, but the minimum purchase size is set at $10,000.

Think we missed something? Let us know in the comment section below.

Share Your Opinion, Write a Comment