Coinbase Stock Surges to Four-Month High Amid Retail IPO Access

Coinbase's stock price has reached a four-month high after opening access to eligible US retail investors for initial public offering (IPO) shares.

The company allows customers to request IPO shares through its app, starting with smart-ring maker Oura's IPO. The service is provided by Coinbase Capital Markets, the company's registered brokerage arm, in partnership with Apex Clearing.

Eligible customers can submit requests once the expected price range becomes available, but placing a request does not guarantee allocation. Customers must deposit enough money to cover their requested shares and may receive less than what they requested if there is more supply than demand.

Coinbase aims to discourage early selling by imposing temporary restrictions on those who sell their IPO allocations within 30 days. Repeat offenders may face smaller or less frequent allocations in the future.