We recently published 10 Stocks Crushing While Wall Street Naps. Bullish is one of the top performers on Thursday.
Cryptocurrency exchange Bullish saw its share prices grow by 9.75 percent on Thursday to close at $74.63 apiece as investors continued to post strong confidence in the company.
After its debut on the stock market on Wednesday, August 13, shares of Bullish already rose by a whopping 219 percent from its $37 IPO price, to an intra-day high of $118, before paring gains to finish lower.
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The company successfully raised $1.1 billion in fresh funds from its IPO, covering 30 million shares or 19.9 percent of its total stock. As of Thursday, it was valued at nearly $11 billion.
Bullish joins the roster of publicly listed cryptocurrency exchange platforms, taking advantage of President Donald Trump’s favorable attitude towards the cryptocurrency industry.
Unlike most crypto exchanges, Bullish primarily caters to institutional clients, offering spot trading, margin trading, and crypto derivatives, targeting the stable and recurring revenue stream that institutional investors provide.