Largest U.S. Crypto Exchange Continues Charge Up the Charts

Adding to the cryptocurrency buzz, Coinbase Global is enjoying the surge

Managing Editor
Apr 16, 2021 at 11:41 AM
facebook twitter linkedin

Coinbase Global Inc (NASDAQ:COIN) has made its mark this week as not only the largest cryptocurrency exchange in the U.S., but with its public trading debut on the Nasdaq this past Wednesday, April 14. This morning, however, the equity was suffering from a (more-than-likely overdue) pullback, after its inconceivable surge to $428.54, during its first day of trading. However, the security looks to have quickly recovered, because at last check, COIN was up 2.9% at $332.19.

Coinbase Global is dancing on a nearly $100 billion value following its initial public offering (IPO) of $381 -- versus the $250 estimate. Wednesday's debut also handed the crypto concern a market cap of $63 billion. While just one analyst covers Coinbase Global stock, they sport a "buy" rating and average 12-month average price target of $440, which comes in 32% above current levels.

Begin the New Year With Schaeffer's 7 FREE 2022 Stock Picks!



Special Offers from Schaeffer's Trading Partners