Cindicator

Coinbase IPO: +60% in the first week after listing

Long
NASDAQ:COIN   COINBASE GLOBAL INC
NASDAQ:COIN

Coinbase IPO or, more precisely, direct listing is the most anticipated financial event this week.

Unlike with a traditional IPO , there is no pre-pricing ahead of the direct listing so trading might be very volatile in the first week.

The reference price of $250 would give Coinbase a valuation of $65 billion.

That’s about the market cap of the New York Stock Exchange, which has comparable revenues ($1.67 billion in Q4 vs $1.8 billion in Q1 for Coinbase) but lower net income ($528mn vs $800mn).

Unlike NYSE or Nasdaq, Coinbase saw rapid growth: the revenue increased by 208% compared to the previous quarter while income surged 347%.

The media widely cited a possible $100 billion valuation for Coinbase so we’ve posted the following question to Hybrid Intelligence:

“Nasdaq gave Coinbase a reference price of $250 a share on Wednesday ahead of its planned direct listing. Will Coinbase shares trade above $400 (+60%) at any time before April 24?”
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Assurance: 71%

This is a mildly bullish sign. Typically traders view HI indicators that are above 70% as “very likely” so that’s just at about the threshold.

Whatever the outcome of the first week’s trading, Coinbase listing will have major effects on the whole crypto market. So stay tuned to our channel!
Cindicator uses Hybrid Intelligence (thousands of analysts + AI) to create indicators with
>70% accuracy and Stoic app, an automated trading strategy that made +318% in 2020.
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Comments

Made high in first 9 minutes, falling like a rock ever since. The entire Blockchain, Grayscale complex in correction mode while underlying cryptos have made new or recovery highs, they have their own patterns. What a coincidence, date certain release of all time high cap IPO and down we go. If the low so far 310 holds could be first leg of correction, then I would subtract $119.50 from wherever it bounces to to figure equality (C=A) then 1.618 x A, to see potential Wave C down. Coming over the top more than 1.382 x A (475.20) likely means correction(?) is over, otherwise I look for C wave down. It's hard to figure price action with little history.
+3 Reply
Dumb question here, but how can you chart or predict a company that is not publicly traded at the time i m writting this ?
+2 Reply
8/8 publishers on COIN at this website are bullish, that's a red flag.
+1 Reply
100 bln hugeeeee
+1 Reply
Yeah, it is a mildly sign :) I think we will see 1500 over a year or faster ( )
+1 Reply
Zahun90 KozakHlib
@KozakHlib, yeah... It will be a $600B company with $1.8B in revenue. People have trully lost their minds...
+4 Reply
KozakHlib Zahun90
@Zahun90, you can read my analysis first.
Reply
morgan9471 Zahun90
@Zahun90, COIN should be the last case in point when talking about market excess, look at RIOT valued at over 1000x sales, MARA, MVIS, not even touching all the various SPACs. COIN is probably gonna trade at a little under 100x sales when the day is over. It would be rich in 2018, but nowhere near rich in 2021. Sad, but true.
Reply
Within 12-18 months average of an IPO release these issues tend to tank.
Reply
Remember the flip side of the COIN! It could tank 50%. Regulatory fears still loom.
Reply
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