COIN debuted today to much fanfare. Opening at $400 per share, it boasted nearly a $46 Billion Dollar valuation. Trading quickly cut $10 billion dollars off of that valuation as early investors sold off private shares, driving the price to $328. But this post isn't about Coinbase's future, it's about the reality of our new reality.
This is a list of some well known publicly traded companies with market caps LESS than Coinbase's (as of 14-April-2021).
Kia, Delta Airlines, Discover Financial, Best Buy, Kroger, Unity Software, Allstate, 7-11 Brands, Chewy, Carnival Cruise Lines, and Autozone.
It will take
COIN falling to under $300 for companies with real assets, providing real services to once again eclipse this crypto-exchange. Like all IPOs, this will likely continue to sell off for a few days and next week, the market will set its true price. I predict this will become wildly volatile with Bitcoin being a leading indicator and I look forward to options being tradable on it. If you can afford the IV premiums, there will be a lot of money made here.
Best trading all!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.