Crypto
Coinbase COIN Shares Surge 6% as Retail IPO Access Platform Launches
Coinbase (COIN) shares experienced a significant surge of approximately 6% on Monday, following the launch of its retail IPO access platform. This feature allows qualified U.S. users to request shares in upcoming initial public offerings directly through the platform.
The service debuted with Oura's IPO, which is scheduled for this week and plans to offer 50 million units within an anticipated price band of $40 to $44 per unit, according to Reuters reporting.
User requests are not guaranteed, and allocations will be based on overall demand and the quantity of units available to Coinbase. Once an allocation is confirmed, shares become available for trading on Coinbase when the stock begins public market trading.