Coinbase Global Launches Options Trade on Nasdaq
Today, Coinbase Global will begin trading on Nasdaq as COIN. It has been less than a week since the public listing of Coinbase on Nasdaq as a stock. Reuters, a global news organization on the 19th, yesterday of this month reported that a Coinbase executive announced COIN.O options will begin on Nasdaq Tuesday, April 20th (today).
The equity options allow investors to capitalize on the gains of Coinbase over time. Equity options allow you to buy and sell stock only after a specific date and at a specific price called the strike price.
News media outlets have it that Coinbases public listing brought the firm to fluctuating prices between $429.54 and $310 on its day 1 on the market
Brian Armstrong Coinbases’s Chief Executive sold about $292 million in shares on day 1 of COIN on the market according to Reuters. The U.S Security and Exchange Commission release the fillings made showing that Brian sold 749,999 shares in 3 different groups, prices varied between $381 to 410 for each share making a total of $291.8 million. Having sold this much, it only accounts for 2% of his holdings of shares.
The filling on Coinbase Investor Relations was 12,965,079 shares on the website were sold by insiders. This was worth $4.6 billion, $344 per share to close on Friday.
Yahoo Finance, recently caring news on the crypto market also gave reports that the stock fell by 22.5% after reaching a high of 429.54 on April 14, to $332.75 to form a support post Monday’s trading session.
Today, Coinbase Pro spoke of its support for trading pairs including Basic Attention Token (BAT), Cardano (ADA), Decentraland (MANA), and USDC from today. They will pair the cryptocurrencies against fiats like the US dollar, Euros, Bitcoin, and Ethereum.
This is really a great news to hear about coming from coinbase I must confess