Net Worth Has Been Obliterated Since Going Public
By Brian Warner on May 20, 2021 in Articles > Billionaire News
Coinbase went public on April 14 riding a wave of global fanfare, excitement and hype. The company went public through a "direct" listing, which is slightly unusual and a bit riskier than a more traditional IPO. With a direct listing, there are no investment banks or pools of wealthy investors promising to create a market for the stock once it goes public. Instead the company's shares are essentially just hoisted onto an exchange, in this case the NASDAQ, for investors to buy immediately at whatever price the market makes. Sometimes that works. Other times, not so much.
Unfortunately, Coinbase is teetering on the verge of "not so much."
And in the process the net worth of CEO Brian Armstrong is getting obliterated.
...
Consider this –
If you invested $10,000 into Coinbase and Bitcoin on April 14, today you'd have $6,750. And I'm sure a lot of people did exactly that – perhaps with money they couldn't really afford to lose.
Orrrr we could all wake up Thursday and Bitcoin will be at $60,000.
www.celebritynetworth.com/articles/...ted-since-going-public/