RE: Coinbase 🤣

Crypto, morals and values aside, buying a "hot and hyped" IPO on opening day is generally a really bad move. They tend to end up insanely overbought, and then do precisely what Coinbase did...

Consider eBay, the hottest IPO of 1998. It was offered at $18 on September 24th and immediately shot up to about $45. By mid October, people were crying in their soup as it had given back 40% of the hyped up first day run. However, by the end of 1998 — 75 days later — it had risen TEN-fold from the October lows.

In the cryptosphere, we're so used to stuff mooning immediately...

=^..^=

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