Why Coinbase Jumped in Premarket Trading Today: Ask Cathie Wood

The highly anticipated debut of Coinbase Global (NASDAQ:COIN) on the public markets went about as planned on Wednesday. Using a direct listing process, rather than a traditional initial public offering (IPO), the cryptocurrency exchange platform started trading far above its $250 reference price, closing the session at about $328 per share. Prior to its first full day of trading Thursday morning, the stock jumped more than 11% in premarket trading, and sits about 7.8% higher as of 7:45 a.m. EDT.