Quote (dro94 @ May 5 2021 04:56pm)
That doesn't change the fact it was a disastrous IPO, especially with the crypto surge at the moment
They went the direct listing route so they probably didn't get the benefit of the underwriting banks selling the company to their various clients. I think that may be one factor.
They saved money on fees but they might have lost that market on the institutional side initially.
The other part of it is I think is most smart investors don't trust their ability to maintain that type of revenue from fees. I bought some shares at 325 for trade but now holding them. I think their next earnings will be very interesting. Also feel that their customer churn will be very high. Most people i know start off with something like Coinbase only to migrate to cheaper exchanges.