Meanwhile, considering its volatile business environment, COIN did not provide revenue guidance but rather different ranges for users. Coinbase had 8.8 million MTU (Monthly Transacting Users) in the quarter as compared to 6.6 million in the previous quarter. Its net profit was also an impressive $1.6 billion in the quarter. The company reported revenues of $2.03 billion in the quarter as compared to $1.6 billion in the previous quarter and $178 million in the second quarter of 2020. Coinbase earningsĬoinbase had reported strong numbers in its second quarter. Only the selling shareholders offloaded their shares in the direct listing.Ħ7% of all retail investor accounts lose money when trading CFDs with this provider. However, since Coinbase listed through a direct trading mechanism, instead of a traditional IPO, under current regulations it wasn’t allowed to raise cash by issuing new shares. Meanwhile, it might sound surprising for any company to go for a debt issuance a few months after the listing.
Coinbase intends to use the net proceeds from the offering for general corporate purposes, which may include continued investments in its product development, as well as potential investments in or acquisitions of other companies, products, or technologies that Coinbase may identify in the future,” the company had then said. “This capital raise bolsters Coinbase’s already strong balance sheet with low-cost capital. In September, Coinbase raised $2 billion through the issuance of convertible notes. What’s the forecast for Coinbase stock and is it a good buy in October 2021? Coinbase stock recent developments However, it soon plummeted to $208.Ĭurrently, COIN stock trades very near the direct trading reference price. The reference price for the direct listing was $250 and the stock went as high as $429.54. The content on this page is for information purposes only.Ĭoinbase (COIN) stock has whipsawed since its direct listing earlier this year. Please note that we are not authorised to provide any investment advice.
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