There are three COIN issues trading right now. COINW is the H warrants that were co-issued last month with COIN stock as COINU (one share of stock and one warrant). Some of the COINW warrants have been split and are now trading separately as COINW. The COINW price dropped about 30% today. The COIN stock was down only a little bit today, so the COINU which is one share of COIN plus one share of COINW warrants (type H warrants) was down about 16%, sort of a half and halve averaging thing. The warrants can be converted to stock at about $1.34, so Fridays drop in COIN share price and the near flat price today took a chuck out of the value of the warrants finally, today instead of Friday. We have 2 problems here. One is more stock to go around and not enough new committed long shareholders yet, the other is the market seems to be in a medium term correction down movement.
I have seen COIN make huge upside movements on news, so I will not risk selling this low. Instead I am gathering cash for the next low (where it is) to buy more. This really should be a $2 stock.
Also they will be forced pretty soon to get back up over $1 to keep NASDAQ happy, which they have proved they can do several times this year.
I was real tempted to buy more COINU and COINW today.
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