There is trickery in dem hills
April 17, 2021 Leave a comment
Stop being duped by the financial media.
Coinbase is a failed IPO.
In fact, it’s not an IPO. It was simply a listing.
The company released a “reference price” of $250 per share.
The company didn’t raise money, which means no one was able to buy shares prior to the first day of trading, thus the reference price is not relevant.
On its first day as a public company, it opened trading $381, it then hit a high of $429. A day later it traded down to $317 and now it’s at $342.
The first public price discovery of this stock price occurred at $381.
This “IPO” is down 10% from its opening ‘print’.
It’s not up 37% from its $250 “IPO” price.
The reference price is a misleading figure made up by the company.
April 17, 2021
by Rob Zdravevski
rob@karriasset.com.au
