Square Inc logo

SQ - Square Inc News Story

$207.85 10.7  5.4%

Last Trade - 14/05/21

Sector
Industrials
Size
Large Cap
Market Cap £63.89bn
Enterprise Value £63.95bn
Revenue £9.38bn
Position in Universe 135th / 6851

BUZZ-Coinbase jumps, nearly as valuable as NYSE owner

Fri 16th April, 2021 5:23pm
** Shares of Coinbase Global Inc  COIN.O  rising 5% on Fri,
adding to gains after the cryptocurrency exchange went public in
a high-profile debut this week that has made it more than twice
as valuable as Nasdaq Inc  NDAQ.O  
    ** With a market cap of $66.7 bln, COIN is almost as
valuable as NYSE owner Intercontinental Exchange  ICE.N  at
$67.5 bln, and is more than double Nasdaq's $26 bln market cap
    ** Celebrity investor Cathie Wood's flagship Ark Innovation
ETF  ARKK.P  on Thurs bought COIN shares for a second day,
bringing the fund's total to 798,757 shares, now worth $270 mln,
and accounting for 1% of its portfolio, per data on Ark's
website
    ** Ark Invest also bought COIN on Thurs for its Ark Fintech
Innovation fund  ARKF.P  and Ark Next Generation Internet fund
 ARKW.P 
    ** COIN has now gained 37% from the reference price in its
Weds direct listing, but it is down 20% from the stock's
intraday high during that session
    ** Wood is a proponent of bitcoin. Square  SQ.N  and Tesla
 TSLA.O , ARKK's two largest holdings, both own the
cryptocurrency

 ((noel.randewich@tr.com; (415) 677 2542, Twitter: @randewich;))
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.