The Great Disappointment

$Coinbase Global, Inc.(COIN)$a cryptocurrency exchange serving retail investors, businesses, and institutions.

On April 1, 2021, the company announced that it would begin offering publicly-traded shares, being listed on the Nasdaq under the name $COIN, following approval from the U.S. Securities and Exchange Commission.

Although expectations were already high, the valuation of this new stock exceeded them, with The New York Times calling it a “landmark moment” for bitcoin and the entire cryptocurrency industry. The Nasdaq placed a pre-emptive reference price of $250 per share, but at market open, each one traded for $381.

The price further spiked to $400 and crashed back to $250 on the day itself and fluctuate between $250 to $280. Since then, the stock have never cross the $300 mark.

With the constant news of the media marketing cryptocurrency and also the exchange on coinbase, the price range still do not change.

With the high trading fee and lack of service provided by coinbase, I don't see how good this company is other than its simplicity.

Without the hype and FOMO on this IPO, this stock will be very stagnant. As a trader and investor, I would rather invest on crypto or other stocks than coinbase.

I highly recommend all traders and investors to beware of FOMO when trading/investing and stay firm to fundamentals when price are high or low. Do not let greed and fear shake us off its fundamentals. Stay safe trade safe.

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