Bullish stock opens at $90, surges more than 200%, giving crypto exchange market cap above $16 billion
Cryptocurrency exchange operator Bullish (BLSH) opened for trade on Wednesday afternoon at $90 per share, nearly triple the $37 where the company priced its IPO.
Shortly after opening for trade, Bullish stock traded hands as high as $112 per share, a more than 200% gain that gave the company a market cap north of $16 billion. The stock was halted for trade due to volatility at least twice within the first few minutes of trading.
The company, which operates a crypto exchange and owns the prominent trade publication CoinDesk, priced its IPO at $37 per share on Tuesday, above the $32 to $33 range the company had expected in its second shot at making a public market debut.
Bullish began its IPO processes looking for a…
