> Coinbase’s stock is currently approximately equal to the IPO price Coinbase is down a little over 27% since IPO, at a time when the wider US stock market is

> Coinbase’s stock is currently approximately equal to the IPO price Coinbase is down a little over 27% since IPO, at a time when the wider US stock market is up around 10%. That's not "approximately equal" in any meaningful way. > At the IPO, the rocketship factor is already priced in. I'll agree with you here - there was a ton of hype and the IPO price was largely based on an expected rocketship trajectory that failed to materialize. Its extremely telling that many of their executives have cashed out 100% or nearly 100% of their available stock options.