+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%

IPO Warrior Matt Hammond Joins 'Power Hour' To Talk Trading Coinbase

April 14, 2021 5:25 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
IPO Warrior Matt Hammond Joins 'Power Hour' To Talk Trading Coinbase

Cryptocurrency exchange Coinbase Global Inc (NASDAQ:COIN) made its debut on Wednesday, making it a focus of discussion on Benzinga's "Power Hour" YouTube show.

The show's host Luke Jacobi spoke with IPO Warriors' Matt Hammond, who said, "I'm setting a limit order just above the indication price" for Coinbase.

Hammond added that he's adjusting his limit order as the reference price for Coinbase goes higher.

Related Link: Coinbase Shares Open At $381, $100B Valuation On Debut

The biggest mistake he made when he started trading IPOs was placing market orders after trading became available, Hammond said. Setting a limit order before the company goes live creates the opportunity to buy shares right away, he added. 

Jacobi explained that the market maker tries to figure out a fair price for the stock to start trading by determining the prices where the buyers and sellers of the stock are lined up. 

Related content: Benzinga's Full Upcoming and Recent IPOs Calendar

The typical time time-slot "these blockbuster IPOs debut," said Hammond, "is 12:30 p.m. EST to 1:30 p.m. EST." 

The Nasdaq set the reference price for Coinbase at $250 per share. The stock opened Wednesday afternoon at $381 and rose to a high of $410 before pulling back slightly, according to a Benzinga article by Shanthi Rexaline, which also stated that at the intraday peak of $410, Coinbase's valuation works out to $107.13 billion.

(Image by SnapLaunch from Pixabay)

Related Articles

Coinbase Direct Listing: What You Need To Know Ahead Of Crypto Exchange's Public Debut

Coinbase (NASDAQ: COIN), the largest cryptocurrency exchange in the U.S., goes public today via a direct listing on the Nasdaq. What Happened: The event marks an important milestone for the entire crypto industry, as it will be the first time a major cryptocurrency exchange goes public. read more

Coinbase Gets Significantly Lower Valuation For Direct Listing From Nasdaq

Cryptocurrency exchange Coinbase Global, Inc (NASDAQ: COIN), expected to list on the Nasdaq through a direct listing on Wednesday, has been assigned a reference price of $250 per share, according to Nas read more

Coinbase's Stock Could Fall To $100 Or Lower, Says Research Firm

Shares of the major United States cryptocurrency exchange Coinbase Inc. (NASDAQ: COIN) could fall to $100 or less, according to a recent analysis. This would mean a fall of about 67% compared to the stock's current price of $304. read more

A Month Into Spelling The Bull Case For Silvergate, Cathie Wood's Ark Invest Has Cut Stake In Bitcoin Play By 59%

Cathie Wood-led Ark Invest has shed a significant stake in Silvergate Capital Corp (NYSE: SI), a month into saying that the cryptocurrency-focused financial institution could be a prime beneficiary of increased crypto adoption. read more