CHART: Crypto IPO winners and losers
Cryptocurrency firms have been rushing to issue initial public offerings (IPO) this year; however, they’ve not all been winners for investors who get in when these stocks are finally offered publicly. Among five firms analyzed by Protos — Circle, Galaxy Digital, Bullish, Gemini, and eToro — only two of them — Circle and Galaxy Digital — currently trade above their initial price. Galaxy Digital was also not technically an IPO, as it had previously traded on the Toronto Stock Exchange, but it did offer an underwritten public offering of its stock as part of its listing on the NASDAQ exchange. Read more: ANALYSIS: Does the Circle IPO value Tether at $316B? Galaxy Digital and Circle have both seen an approximate 63.5% relative increase in their trading price since their securities became available on NASDAQ. Circle was, at one point, trading at approximately three times its initial price before falling to this lower level. The thr...