Here's Why Jim Cramer Doesn't Like 'Giant Deals' Coming to Market

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Coinbase is going public via a direct listing on Wednesday, April 14. 

The company will go public on the Nasdaq. It's the largest U.S. cryptocurrency exchange. Coinbase has 56 million verified users and adds about 13,000 new retail customers a day, according to cryptocurrency analytics firm Messari.

MoffettNathanson gave Coinbase a $600 price target ahead of its public debut. 

“We view Coinbase as a leading technology infrastructure provider for the cryptocurrency ecosystem, providing essential building blocks to facilitate the use of cryptocurrencies, including market-leading crypto storage and exchange capabilities,” MoffettNathanson analyst Lisa Ellis wrote in a commentary.

“As the company describes it well, Coinbase provides an ‘on-ramp to the crypto economy,’ enabling consumers, financial institutions, and businesses to easily and efficiently transition between fiat and cryptocurrencies, and securely store and use cryptocurrencies," Ellis continued. 

Watch the video above for Cramer's take on how to play the Coinbase direct listing.

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