Do repost and rate:
Coinbase’s shares started trading Wednesday at $381 each, completing the biggest U.S. cryptocurrency exchange’s direct listing on Nasdaq as bitcoin rallied to a fresh all-time high.
The initial trading price compared with a reference price of $250 a share published late Tuesday by the Nasdaq, although that figure was set at the low end of an estimated trading range.
Based on the initial price, COINBASE would have a market capitalization of $76 billion, based on an outstanding share count of 199.2 million. The figure would be $99.6 billion using the fully diluted share count of 261.3 million.
In recent weeks, analysts had estimated the share price at levels ranging as high as $600 a share.
