FlowBank

1085 days ago

With $29 billion in volume on Day One, Coinbase (COIN) probably set an all-time record. Alibaba was $25 billion and Facebook was $23 billion.

Other key takeaways: 

 - After setting its reference price at $250 overnight, Coinbase opened (via Direct Listing) at $381, implying a $100B valuation. It was then panic-bid above $429 - becoming bigger than Fidelity and Vanguard - before closing at $328 (implying a $85B Market Cap), which is a 31% gain from reference price (in line with previous direct listing such as Roblox); 
-The so-called bitcoin-proxies such as MicroStrategy (-13%), PayPal (-3%), Square (-5%) and Tesla (-4%) were all down as investors prepare to rotate from those 'proxies' to COIN as a more direct proxy;
- Coinbase is now the most valuable exchange in the world;
- Cathie Wood’s Ark Invest loads up on nearly $250 million of Coinbase on first day of trading;
- A $100 billion valuation is reasonable for a disruptive, cutting-edge crypto firm, Manhattan Venture Partners says. Based on 2022's estimated figures, Coinbase will trade at ~11x sales and 27x EBITDA, they said. 

#Stocks
Coinbase (COIN) volume on day 1

1086 days ago

Atlassian saw stock price rise after hiked its expected revenues for Q3

Atlassian shares surged 4%, following a 5% gain in the regular session to close at $242.19. The company expects preliminary third-quarter revenue of $566 million to $ 572 million. Analysts expect adjusted earnings of 22 cents a share on revenue of $487.2 million. In January, Atlassian had forecast adjusted earnings of 20 cents to 21 cents a share on revenue of $475 million to $490 million for the third quarter. The company is scheduled to report full earnings on April 29.

#Stocks

1086 days ago

Bearish Individual investors disappearing, down to 20% and lowest in 2 years - AAII

The percentage of bearish investors is back down to 20% which happened in March 2019 before the S&P 500 peaked in April and went sidesways until October of 2019. Same to happen again?

#Stocks #Macro
Bearish Individual investors disappearing, down to 20% and lowest in 2 years - AAII

1086 days ago

Short selling returns to the market as GME fanfare dies downs

Short interest as % of S&P 500 market cap has bottomed for now - back up to 1.7% off lows under 1.5%.

#Stocks
Short selling returns to the market as GME fanfare dies downs

1086 days ago

Coinbase Awards All Employees 100 Shares in Surprise Giveaway

When Coinbase goes public on Wednesday, the list of people eligible to cash in will be longer than expected. That's thanks to a recent decision by the company to hand out 100 shares to its approximately 1700 employees around the world. 
The giveaway means that every full-time employee at the company is poised to become $25,000 richer based on a $250 reference price set by the NASDAQ stock exchange on Tuesday. The actual price at which the stock begins to trade, however, could be significantly higher—or lower.

#Stocks
Coinbase surprised its approximately 1700 employees by giving out shares just ahead of its public listing.
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