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Coinbase Makes a Volatile Market Debut. Should You Buy the Stock?

The largest U.S. cryptocurrency exchange is going public at a time when Bitcoin is at record highs. Here’s what to consider before investing.

Bloomberg business news — Coinbase IPO: What You Need to Know in 4 Minutes

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April 14, 2021, 2:35 PM UTCUpdated onApril 15, 2021, 1:53 PM UTC

Coinbase Global Inc. went public Wednesday, riding three mega trends: crypto, stock listings and retail trading are all booming.

Shares in the crypto exchange opened at $381 and rose past $429, hitting a valuation of above $112 billion, before sinking to $328.28 a share at the market close in New York. On Thursday, the stock gained as Cathie Wood’s Ark Investment Management added $246 million worth of Coinbase stock to three of its funds.