Investing
Coinbase, JPMorgan, China Huarong: Investments in the Spotlight
Bloomberg Wealth reviews assets that made a splash this week.
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It was a volatile start for Coinbase Global Inc., the largest U.S. digital currency exchange, which made its trading debut Wednesday. After opening at $381, the stock initially rose past $429, giving the company a $112 billion valuation, before dropping back sharply. It closed Thursday at $322.75, giving it a market capitalization of $64.2 billion.
As Coinbase tumbled, Bitcoin also pulled back, with the largest cryptocurrency dropping from a record high and snapping six consecutive days of gains.