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SQ - Square Inc News Story

$207.85 10.7  5.4%

Last Trade - 14/05/21

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
    ** Ark Invest also bought COIN on Thurs for its Ark Fintech
Innovation fund  ARKF.P  and Ark Next Generation Internet fund
    ** 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

 ((noel.randewich@tr.com; (415) 677 2542, Twitter: @randewich;))
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