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Coinbase gets reference price of $250 per share from Nasdaq



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 1 month ago '05        #1
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Mariel619 
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Coinbase gets reference price of $250 per share from Nasdaq
 

 
CNBC:

Nasdaq gave Coinbase a reference price of $250 a share on Wednesday ahead of its planned direct listing, which would value the cryptocurrency exchange at about $65.3 billion on a fully diluted basis.
Coinbase is set to become the first major crypto business to go public in the U.S. and, should it reach a $100 billion market cap, will instantly be one of the country’s 85 most valuable companies. The company’s value has soared in the past year alongside bitcoin and ethereum, the primary currencies traded on the site.

Coinbase chose the direct listing path to the public market rather than pursuing a traditional IPO. That means instead of raising cash by selling new shares to a group of institutional investors, Coinbase is allowing existing stakeholders to start selling immediately at a market-driven price.

The reference price provided by Nasdaq reflects recent private market trades and input from investment bankers but does not indicate where the stock will open. This is Nasdaq’s first major direct listing. In the five significant direct listings that have taken place on the New York Stock Exchange — Spotify, Slack, Palantir, Asana and Roblox — the opening price was on average about 37% above the reference price.

Coinbase said last week in announcing preliminary first-quarter results that revenue in the period surged ninefold to $1.8 billion, and net income climbed to between $730 million and $800 million from $32 million a year earlier. The vast majority of transactions on Coinbase involve the purchasing of bitcoin and ethereum, which have been on a historic tear, climbing over 800% and 1,300%, respectively, in the past year.

For the full year of 2020, revenue more than doubled to $1.28 billion, and the company swung from a loss in 2019 to a profit of $322.3 million.
Coinbase has mapped out a plan to be at the center of an emerging “cryptoeconomy,” in which financial transactions and online marketplaces will largely move to the blockchain, giving investors a wide set of digital currencies to buy and trade. But the company has acknowledged that short-term growth will primarily be dictated by the price and transaction volume of bitcoin.


Key Points:

The Nasdaq said on Tuesday that Coinbase’s reference price for its direct listing is $250, which would value the company around $65.3 billion on a fully diluted basis.

The reference price reflects past transactions and input from the investment bankers, but it does not indicate where the stock will open on Wednesday.

Coinbase is the Nasdaq’s first significant direct listing, after Spotify, Slack, Palantir, Asana and Roblox all went public on the New York Stock Exchange.


Last edited by Mariel619; 04-13-2021 at 03:18 PM..
+12   



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76 comments
 

 1 month ago '19        #2
Amarula  topics gone triple plat - Number 1 spot x8
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That seems kind of high
+13   

 1 month ago '16        #3
Homer Pimpson 
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lets gooo
+3   

 1 month ago '10        #4
eightytyson06 
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If you got bread and think it'll stay above that price grab it now but I'd wait a few months for it to settle then I think a lot of big boys will grab it. I'm waiting to see what ARK does im sure they gonna add it to one of their funds. I'm thinking arkf which would be perfect
+12   

 1 month ago '05        #5
Flatbush85  topics gone triple plat - Number 1 spot x1
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 Amarula said
That seems kind of high
Which is why I would never buy an IPO.
+10   

 1 month ago '20        #6
UzamakiSageMode 
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 eightytyson06 said
If you got bread and think it'll stay above that price grab it now but I'd wait a few months for it to settle then I think a lot of big boys will grab it. I'm waiting to see what ARK does im sure they gonna add it to one of their funds. I'm thinking arkf which would be perfect
No joke... i actually am starting to get what ur saying.

Especially with the "projected" value not being the same as when it opens.

But what i dont get is, the crypto currency...is it only valuable on very specific trades. Coinbase isnt ONLY crypto currensy right? And what the hell does it mean that "Crypto currency cant be used on most stock trades or buying them"?
+3   

 1 month ago '20        #7
Bighempin 
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How broke n*ggas like me gonna get in on the game at 250 price point
+8   

 1 month ago '11        #8
imagnacarta 
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The fact there is not a lot of buzz in this thread is mind boggling. Coinbase's direct listing is a power move.
+6   

 1 month ago '10        #9
eightytyson06 
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 UzamakiSageMode said
No joke... i actually am starting to get what ur saying.

Especially with the "projected" value not being the same as when it opens.

But what i dont get is, the crypto currency...is it only valuable on very specific trades. Coinbase isnt ONLY crypto currensy right? And what the hell does it mean that "Crypto currency cant be used on most stock trades or buying them"?






If you got a few hours for research check these dudes out from last year to today I LEARNED so much it's crazy how I can analyze stocks.

But no there are a ton of crypto currency places to buy coins and a few companies are lookin to get into it like fidelity
+5   

 1 month ago '04        #10
Wizzarino 
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 UzamakiSageMode said
No joke... i actually am starting to get what ur saying.

Especially with the "projected" value not being the same as when it opens.

But what i dont get is, the crypto currency...is it only valuable on very specific trades. Coinbase isnt ONLY crypto currensy right? And what the hell does it mean that "Crypto currency cant be used on most stock trades or buying them"?
From what I can see, Coinbase is only crypto...

And what the hell does it mean that "Crypto currency cant be used on most stock trades or buying them"
You can’t really buy stocks with crypto...



Last edited by Wizzarino; 04-13-2021 at 06:24 PM..
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 1 month ago '20        #11
MeNoSenYouNoCom  topics gone triple plat - Number 1 spot x7
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 Flatbush85 said
Which is why I would never buy an IPO.
this might be different
+5   

 1 month ago '14        #12
consigliereA 
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Money counter, brrr..

+2   

 1 month ago '05        #13
I_REP_VA 
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Was expecting $400+

Whatever the price, I’m coppin some tomorrow.

Anyone know if we can order premarket?
+5   

 1 month ago '16        #14
Replicate45 
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sportsbook top 10
I would wait because $250 is way too high.
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 1 month ago '05        #15
Mariel619  OP
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Shiiiiiiiit
250 is a steal. As Bitcoin and Eth goes so does COIN.
If im wrong but the data says people are going to be up early waiting on that bell.
+5   

 1 month ago '18        #16
Raymon 
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Maaannnn I'm broke, bought all the dips I could and sh*t keeps dipping I'm done for a while gonna let the market settle and buy more later, this could go down later, let's see what that opening price will be tho
+3   

 1 month ago '14        #17
familybuster 
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$250 with 260m shares outstanding seems kinda steep, but they are profitable with $1.8B rev on the quarter. Decisions decisions.
+2   

 1 month ago '08        #18
YoungRay20  topics gone triple plat - Number 1 spot x1
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Strong chance this could be worth over $500 a share . Coinbase is a gateway.
+4   

 1 month ago '17        #19
Mario Chalmers  topics gone triple plat - Number 1 spot x6
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Lmao at people saying $250 is high
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 1 month ago '05        #20
kurtd225 
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Come one doge coin its almost at a doller
+1   

 1 month ago '07        #21
Bullseye 
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You better get it at $250 cause that's the last time you'll see that!
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 1 month ago '06        #22
d4deesnuts 
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I’m new to this so I apologize for the dumb question but what brokerage do y’all recommend buying this with and is it possible to purchase this off the Coinbase app itself? I’m a*suming no?


Last edited by d4deesnuts; 04-13-2021 at 11:57 PM..

 1 month ago '17        #23
Mario Chalmers  topics gone triple plat - Number 1 spot x6
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 d4deesnuts said
Im new to this so I apologize for the dumb question but what brokerage do yall recommend buying this with and is it possible to purchase this off the Coinbase app itself? Im a*suming no?
Webull. Robin Hood if youre desperate.

 1 month ago '17        #24
Mario Chalmers  topics gone triple plat - Number 1 spot x6
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 Flatbush85 said
Which is why I would never buy an IPO.
Its not an ipo
+2   

 1 month ago '06        #25
NOCCOWT 
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 Flatbush85 said
Which is why I would never buy an IPO.
There was no IPO it went direct
+1   



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