The SEC has given regulatory clearance to Coinbase's direct listing and they anticipates that its Class A common stock will begin trading on the Nasdaq Global Select Market under the ticker symbol “COIN” on April 14, 2021. You can find all of Coinbase's SEC filings on Investor.coinbase.com
At this time is looks like the company has said it plans to register nearly 115 million shares of Class A common stock, which will trade under ticker symbol "COIN". In a direct listing, the issuing company forgoes selling new stock and instead allows existing stakeholders to sell their shares to new investors. For perspective here's the holdings of Brian Armstrong and Emilie Choi who look to make a handsomely when they start selling stock.
Brian Armstrong Co-Founder, Chief Executive Officer and Chairman of the Board
Emilie Choi President & Chief Operating Officer
The SEC’s green light marks a milestone for cryptocurrency advocates, investors and enthusiast who have piled into blockchain-related assets like BTC, ETH and LTC. Only recently have many traditional banks and institutional investors embraced or dipped their toes into cryptocurrency since they previously deemed it too speculative and volatile. However, with bitcoin up about 800% in the past year and an ecosystem that's expanding at an exponential pace, Coinbase has become one of the largest exchanges in the world. Last month I talked about how they revealed that they had reached an implied $68 billion private market valuation, based on an average share price of $343.58. While private market value is less indicative of a company’s share worth, the Nasdaq will use that information to set a reference price ahead of Coinbase’s direct listing. I'm guessing share will list around $150, but who knows based on some of the other listings, IPOs and SPACs which have traded wildly and opened at high prices.
I will probably look to trade COIN as I want to get some of the ridiculous fees that I have been charged back.I also think it be good to short or buy Puts on COIN when we do enter a bear market as being in the US it's harder for me to trade derivatives on crypto itself.
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For a company that works on a remote only model, it's huge. Crypto made it possible for them. Their share price is going to skyrocket for sure.
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I might need to readjust my price target I guess I won’t be surprised to see $500/share.
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That's right. $500 seems more appropriate 😁
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This will be a very interesting stock to watch. Definitely a buy and hold, for me
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Buy and hold during bull market and when we hit a bear market short to high heaven.
This is goint to be very interesting to gauge the Wall Street interest in Cryptocurrencies as there was almost none in the Bitcoin miners a few years back !
Let's watch what happens next. They will also do a public Q1-2021 Webcast Results on April 6th.
Exciting times ahead
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It’s ground breaking as you are correct The miners were not really receptive well. I think the volatility in just the hype in 2017 meet investors weary because they thought it was a fad versus today were there’s real adoption and large institutional backing.
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Also the costs were fixed and they thought there was no competitive advantage (except size) and free gouvernement electricity (Venezuela ? Iran ? China). Which was partly true.
One could argue that Coinbase has a flexible cost base which secure the business model in my opinion.
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I looked at the ESO, it is a bargain for the executives.
$150 is really high but it could be
the value as far BTC and the crypto market will justify
these numbers.
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Yeah look at the cost basis and how many shares they have they are going to get rich!
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What a great milestone the crypto world enters the real economy.
I remember a similar moment in the late 90s when I saw an add on some street furniture for eBay. I was like wow the internet has crossed over into our real lives.
Eventually crypto will see mass adoption just like the internet and all the early adopters will benefit
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I won’t use coinbase ever again. They halt trading and held up a Bitcoin trade of mine five days. They are crooked no wonder why the jackasses at the SEC approved them.
For me it’s about the only exchange I can use so I’m stuck with it… I can’t wait to open the trade short their stock to recover all my fees and hopefully get a little bit of compensation for how much of a pain in the ass they have been.
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How much of that PITA is due to US regulation? Or FEAR of US Regulations??
Certainly some was generated using the "fear of regulation" as a club to
Bully the users of the "exchange". 🤷♂️ Delaying payouts of airdrops, DIVS,
etc. is the worst thing I can think of. Only paying partial divs should be
considered CRIMINAL...
Coinbase was good for me at the level I was engaged, when I used them. It's
really only good for a HODL account, it's an easy Gateway for a newb.
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Although I would really like go buy some shares of coinbase, as I think that a huge run up could be possible I‘m afraid that the price will be already up huge when they are listed on the stock market compared to the initial price. Will be similiar to thr Airbnb IPO I think....
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Yeah I think the same thing, but I'll be watching to see where we open. I think if we get a quick dump I'll be looking to buy so long as the crypto market is still flashing bullish signals.
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Yes! I‘ll try to do the same!
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If I had a dollar for every time that I have heard the phrase, "This time is different" in my life; well let's just say that I might already be retired. But as cringe as it may be; I also am going to throw my hat into the ring and will proclaim that this bitcoin cycle is in fact, different. It won't be like anything before it; and there may never be anything quite like it again. Some people have called it the bitcoin super cycle. Let me tell you about why so many bitcoin holders will become very rich during this cycle.
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I think we are in a good bullish cycle, but we can't stay in it forever. I will be using this listing to protect and make profit during the bad times as I don't have a way to short BTC. I would not be short right now though.
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See my reply as well!
$75k or less BTC is a definite BUY.
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This is different because the institutional money is coming in, the BULL RUN is usually over by now, (for BTC) and we've also had a double TOP, second bigger than the first. I also do not predict that we will have a market COLLAPSE nearly as deep as between other Halvings. Maybe not a real collapse at all. I suspect maybe at worst, a $50k range for BTC before the next leg up.
Some are calling for anything below $75k price for BTC a STRONG BUY. I agree with that. But I also have a lot of other likely targets to ring up 🤑🤑🤑🤑🤑🤑
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so cool!
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Yes exciting times we are in!
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thats true, the #showdown begins! Pray for #Hive!
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Bzb
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Their share price is going to skyrocket for sure.This will be a very interesting stock to watch. Definitely a buy and hold, for me
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I will be trading in and out. I think it's going to be a wild ride.
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Excellent Reporting!!!
I'm going to stay out of STONKS, and I sure as hell hope that a stonk market implosion will not affect Coinbase, nor Crypto, in an adverse fashion. Hopefully this Equities version will be hosted/listed/set up as an NFT or tokenized in the near future, as all "STONKS" should be. Less chance of rehypothecation that way, or selling fractionalized certificates.
Nice Article CT!
See U in the discords...
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Can we buy with crypto somehow?
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I haven't been excited about a traditional stock for a while
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this is really cool but what about xrp trading reopen
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It's about making money so what ever I need to do to make that happenI will. This community will make you rich in both profits and knowledge.
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