The largest US user in the United States dropped 6% to $ 256.76 on Thursday, and dropped the fourth straight day.
Coinbase Global Inc. dropped sharply as investors fled new entrants to the market.
The largest US exchange user fell 6% to $ 256.76 on Thursday, and dropped the fourth straight day.
This left shares above the $ 250 price target on its direct Apple list. An exchange fund that follows the shares of companies that have gone live for the eighth day, which has been the longest since 2015
Virgin Galactic Holdings Inc. and Opendoor Technologies Inc., companies that come in to sell through non-profit offerings, each sank to about 3.8%.
“We’ve seen a lot of noise in SPACs, IPOs, crypto, tech-tech and hyper-growth in late 2020 and early 2021 and many of these products suck tires,” said Mike Bailey, chief research officer at FBB Capital Partners.
The Coinbase slide comes at a time when women are pouring into fictional currencies such as Dogecoin and Binance Coin – tokens that the exchange does not offer.
Most of its vehicles come from Bitcoin trading, but the price of the largest crypto currency was moved to a smaller group for several weeks. Coinbase started trading at $ 381 on April 14 before offering a brief $ 400. It has now dropped by 22% since the end of its first day.
Nasdaq set a $ 250 price target on April 13 on the Coinbase index, a number that is essential for stocks to start trading, but not a direct indication of corporate sales.
“What has hurt Coinbase, since their list is already gone, you see the expectation that another exchange is coming,” said Edward Moya, a senior market analyst at Oanda. “There is a belief that this could be as good as Coinbase in the near future.”
The Renaissance IPO ETF fell by 4.2% on Thursday, leading to a 14% annual loss.