With three major AI-related IPOs on the horizon – SpaceX, Anthropic, and OpenAI – it may feel like AI equities will rally for the foreseeable future. However, as we’ve seen in other high-flying industries of the past, these events can often mark market highs. Here’s what the Coinbase IPO can show us.
What the Coinbase IPO Taught Investors About Market Tops
On April 14, 2021, Coinbase went public via an IPO. This marked a notable milestone for the industry, signifying crypto’s entry into the mainstream. Notably, this was done via a direct listing rather than a traditional IPO mechanism, allowing insiders (namely, executives and VCs) to sell directly into the market with few limits. Market sentiment and excitement felt extremely…
