Coinbase Opens at $381 in Nasdaq Debut - Bloomberg

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Coinbase Global Inc. opened at $381 in its Nasdaq debut on Wednesday.

The largest U.S. cryptocurrency exchange is the latest to go public via direct listing, an alternative to a traditional initial public offering -- or a merger with a special purpose acquisition company -- that bypasses a funding round and goes straight to public trading.

The listing’s reference price of $250 per share is not a direct indicator of the company’s potential market capitalization, which will become more clear as the stock trades on Wednesday.

Read more: Coinbase Listing Throws Spotlight on Nasdaq Amid Bitcoin Boom

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Coinbase Opens at $381 in Nasdaq Debut - Bloomberg
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