Coinbase shares jump 10% day after Nasdaq debut
The logo for Coinbase Global Inc, the biggest U.S. cryptocurrency exchange, is displayed on the Nasdaq MarketSite jumbotron and others at Times Square in New York, U.S., April 14, 2021. REUTERS/Shannon Stapleton
Coinbase Global Inc shares jumped 10% in early trades on Thursday, a day after the cryptocurrency exchange went public in a high-profile debut on the Nasdaq that briefly valued it at more than $100 billion.
The debut marks another milestone for bitcoin and other digital assets and comes amid a surge in the value of cryptocurrencies that has lured a clutch of mainstream, top-tier firms.
Cathie Wood's Ark funds bought $246 million worth of Coinbase shares in the debut on Wednesday, according to the firm's daily trade summary.
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Coinbase shares were up 10.3% at $362 by 4:42 a.m. ET.
