How a Hot Crypto Company Timed its IPO to Perfection

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The Street

By Brian O’Connell This crypto broker is a very different company a year after its popular direct listing. Direct listings are something of a rage on Wall Street these days. The avoid things like setting the IPO price, leaving money on the table and closing below the offering price (breaking). But what a difference a year (almost) can make. Take Coinbase (COIN) , for example. The shares closed at $328.28 in their Nasdaq debut last April 14. At that price, the company was carrying a market cap of $85.8 billion. Fast forward 11 months and the stock is about 40% below that. Real Money’s Paul Gine…

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