Coinbase announces proposed direct listing

Re:Coinbase announces proposed direct listing by solveit on Thursday January 28, 2021 @07:33PM (#25951834)

If I am willing to buy 100 shares at $100, I may be willing to buy 300 shares at $60. So just because my bid got filled doesn't mean I won't be buying more.

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Re:Coinbase announces proposed direct listing by harryh on Thursday January 28, 2021 @10:08PM (#25953274)

If you're willing to buy 300 shares at 60, but only 100 shares at $100 you can enter two bids:

100 shares at $100

200 shares at $60

This will satisfy your demand position.

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Re:Coinbase announces proposed direct listing by cbhl on Friday January 29, 2021 @02:58AM (#25955117)

If the person has only 18000 though (300 at 60) then if they put in 100 at $100, they'll only be able to buy 133 at 60.

I would still enter two bids; it's just a matter of adjusting how many at each level.

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Re:Coinbase announces proposed direct listing by harryh on Friday January 29, 2021 @07:49AM (#25956700)

No, this is not how it works.

All the shares in the auction are sold at the same price. If the market clears at 60, a person entering the bids I described would buy 300 shares at 60.

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Re:Coinbase announces proposed direct listing by cbhl on Friday January 29, 2021 @03:45PM (#25962269)

I apologize if I misunderstood. Isn't this a direct listing? At what point do retail investors get to participate in an auction?

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Re:Coinbase announces proposed direct listing by harryh on Friday January 29, 2021 @04:30PM (#25962840)

Retail investors (and any other investors) submit orders before the new security begins to trade. The first thing that happens on open is an auction.

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