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On 4/11/2021 at 10:45 AM, I.Am.Ironman said:

Yeah this one is going to be interesting. I haven't heard what price they are listing at, I have seen anywhere from 70b-100b market cap. They are offering 115M shares so we are looking at anywhere between $600-900 per share. I don't think I am going to chase this one. I could see some money being made in the short term, but over the long term what is stopping other brokerages like questrade from offering lower fees? Coinbase charges like 5% fees, an established bank has the ability to offer half of that and still make tons of money.

311m shares at above $300/share is what it should open at

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20 minutes ago, nuckin_futz said:

Still lots of interesting things happening on a daily basis.

 

Take TIRX for example -78% on the day on NO NEWS. Not really sure why Nasdaq didn't halt it and ask the company if they had anything they'd like to share with everyone else. Nasdaq seems intent on letting these scams run freely on their exchange and turning it into a casino.

 

 

tirx.jpgtirx2.jpg.f07cf0f9ee76cbfea6b47b58795cbae1.jpg

 

This traded about 2 million shares before it imploded and about $500 million dollars in market cap was incinerated. Really curious why Nasdaq is cool with this?

Saw that this morning, apparently a WeChat scam was orchestrated using girls to message people (allegedly)

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37 minutes ago, AriGold said:

Yeah, it was all I knew.. I had my fun, my fad is over..

 

SPAC's were predictable, nothing is anymore. I have 2000 shares of PSFE and I'm going to ride that for the rest of the year.

Lol yeah, my recent wins were picking up Square at 204 to today's price, and NNOX at 39 to 60 on FDA approval. Other than that, just scalping CLSK for 10-20% a few times, same with STPK. Just been adding to high conviction long plays on red days and actually focusing on my job haha

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6 minutes ago, NucksPatsFan said:

Saw that this morning, apparently a WeChat scam was orchestrated using girls to message people (allegedly)

Yeah that's the story making the rounds. A friend of a friend of mine apparently got one of those messages. 

 

5 minutes ago, NucksPatsFan said:

Lol yeah, my recent wins were picking up Square at 204 to today's price, and NNOX at 39 to 60 on FDA approval. Other than that, just scalping CLSK for 10-20% a few times, same with STPK. Just been adding to high conviction long plays on red days and actually focusing on my job haha

Glad someone made money in NNOX. I managed to vaporize something like 28K in there. Really didn't take that long either. That candle on the daily chart that goes from $75 to $47 (the huge Inverted Hammer) is one of the sickest things I have ever seen especially given the news that day.

 

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12 hours ago, AriGold said:

Yeah, it was all I knew.. I had my fun, my fad is over..

 

SPAC's were predictable, nothing is anymore. I have 2000 shares of PSFE and I'm going to ride that for the rest of the year.

Really?
The Pubmatic you told us about a few months has continued to do really nicely for me. Thanks again!

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XRP officially tripled for me. $200 is now $625 today. I didn't know anything about it but my brother was big on it so I put a couple hundred bucks for $&!#s and giggles. I wish I put more in, but that's hindsight for you. He's been big on it for a couple years; he's up over 10k on it.

 

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And the award for worst bank in the world goes to Credit Suisse.

 

 

These donkeys still have shares to unload. Apparently they were hoping it would bounce. Truly stunning how foolish they are.

 

They should get multiple downgrades for sheer stupidity. :picard:

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Coinbase gets reference price of $250 per share from Nasdaq ahead of Wednesday’s direct listing

  • The Nasdaq said on Tuesday that Coinbase’s reference price for its direct listing is $250, which would value the company around $65.3 billion on a fully diluted basis.
  • The reference price reflects past transactions and input from the investment bankers, but it does not indicate where the stock will open on Wednesday.

Nasdaq gave Coinbase a reference price of $250 a share on Wednesday ahead of its planned direct listing, which would value the cryptocurrency exchange at about $65.3 billion on a fully diluted basis.

 

Coinbase is set to become the first major crypto business to go public in the U.S. and, should it reach a $100 billion market cap, will instantly be one of the country’s 85 most valuable companies. The company’s value has soared in the past year alongside bitcoin and ethereum, the primary currencies traded on the site.

 

Coinbase chose the direct listing path to the public market rather than pursuing a traditional IPO. That means instead of raising cash by selling new shares to a group of institutional investors, Coinbase is allowing existing stakeholders to start selling immediately at a market-driven price.

 

The reference price provided by Nasdaq reflects recent private market trades and input from investment bankers but does not indicate where the stock will open. This is Nasdaq’s first major direct listing. In the five significant direct listings that have taken place on the New York Stock Exchange — Spotify, Slack, Palantir, Asana and Roblox — the opening price was on average about 37% above the reference price.

 

Coinbase said last week in announcing preliminary first-quarter results that revenue in the period surged ninefold to $1.8 billion, and net income climbed to between $730 million and $800 million from $32 million a year earlier. The vast majority of transactions on Coinbase involve the purchasing of bitcoin and ethereum, which have been on a historic tear, climbing over 800% and 1,300%, respectively, in the past year.

 

For the full year of 2020, revenue more than doubled to $1.28 billion, and the company swung from a loss in 2019 to a profit of $322.3 million.

 

Coinbase has mapped out a plan to be at the center of an emerging “cryptoeconomy,” in which financial transactions and online marketplaces will largely move to the blockchain, giving investors a wide set of digital currencies to buy and trade. But the company has acknowledged that short-term growth will primarily be dictated by the price and transaction volume of bitcoin.

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25 minutes ago, nuckin_futz said:

And the award for worst bank in the world goes to Credit Suisse.

 

 

These donkeys still have shares to unload. Apparently they were hoping it would bounce. Truly stunning how foolish they are.

 

They should get multiple downgrades for sheer stupidity. :picard:

I believe after GS decided to just quickly unloaded first, Nomura took a huge hit... and thus were downgraded by GS, lol.  

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1 minute ago, Lancaster said:

I believe after GS decided to just quickly unloaded first, Nomura took a huge hit... and thus were downgraded by GS, lol.  

Yeah Goldman and Morgan Stanley dumped what they got stuck with as soon as possible.

 

Morgan already downgraded Credit Suisse on April 9th. They should downgrade them again.

 

Credit Suisse falls on Morgan Stanley downgrade to Equal Weight

Apr. 09, 2021

 

Morgan Stanley believes that the recent loss experience could cast a longer shadow over relative valuation multiples and thus downgrades the stock to Equal-Weight from Overweight.

 

:lol:

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8 hours ago, I.Am.Ironman said:

Are they not offering 115M shares though? $300/share is only a 35B Market Cap

 

4 hours ago, NucksPatsFan said:

I thought I read 311 million shares. It was also early in the morning lol 

261.3 million as of right now

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2 minutes ago, I.Am.Ironman said:

we were both way off

I think the bigger story is that this thing is already at $250.

Probably will open up at 300-400 range which is ridiculous!

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10 hours ago, CBH1926 said:

I think the bigger story is that this thing is already at $250.

Probably will open up at 300-400 range which is ridiculous!

It may actually surpass Goldman Sachs in market cap which would be stupid.

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9 minutes ago, I.Am.Ironman said:

It may actually surpass Goldman Sachs in market cap which would be stupid.

Goldman's earnings today were absolutely massive.

 

If anyone cares Bernie Madoff kicked the bucket this morning. ...

 

Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, has died in a federal prison, a person familiar with the matter told The Associated Press on Wednesday.

 

Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes, the person said. The person was not authorized to speak publicly and spoke to the AP on the condition of anonymity.

Last year, Madoff’s lawyers filed court papers to try to get the 82-year-old released from prison in the COVID-19 pandemic, saying he had suffered from end-stage renal disease and other chronic medical conditions. The request was denied.

 

Madoff admitted swindling thousands of clients out of billions of dollars in investments over decades.

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