This week wasn’t dominated by earnings, even as we kicked off an important round of quarterly reports. One item drowned out the rest: the Coinbase IPO.
On Wednesday, the cryptocurrency exchange and digital currency wallet provider launched its long-awaited initial public offering.
It deals in major cryptocurrencies like bitcoin and Ethereum … just to name a few.
Coinbase Global Inc. (Nasdaq: COIN) boasts 2.8 million monthly transacting users and 43 million verified users of its platform.
Its lifetime trading volume totals $456 billion with $90 billion in assets on the platform.
Pro tip No. 1: I talked about the Coinbase IPO in my Week Ahead piece last week. You can check it out here.
And the Coinbase IPO did not disappoint.
Investors seemed to reject the reference price of $250 per share and opted to buy into Coinbase at a much higher price.
That gave the company a market valuation of nearly $100 billion. It was easily the biggest news of the week, overshadowing quarterly earnings and key economic data.
Should You Invest After the Coinbase IPO?
I thought it was a good idea to bring in two of the best investment minds in the game to talk about Coinbase.
Chief investment strategist Adam O’Dell and Green Zone Fortunes co-editor Charles Sizemore join me on this weekend edition of The Bull & The Bear. We break down one of the largest IPOs to hit the market in recent memory.
More importantly, we tell you where we think this company is going in the future.
At Money & Markets, we aim to provide you safe, smart, sound and simple investment information to grow your portfolio.
Pro tip No. 2: Adam has found the next technology that will spark the biggest investment mega trend in history … with one small Silicon Valley company at the center of it all. To learn more about this trend that Tesla CEO Elon Musk called “amazing,” click here.
If you missed last week’s episode of The Bull & The Bear, Adam, Charles and I picked stocks from the housing, infrastructure and tech sectors. Check it out here.
The Bull & The Bear
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Research Analyst, Money & Markets
Matt Clark is the research analyst for Money & Markets. He’s the host of our podcast, The Bull & The Bear, as well as the Marijuana Market Update. Before joining the team, he spent 25 years as an investigative journalist and editor — covering everything from politics to business.