Bullish (BLSH) Makes Explosive Market Debut, Stock Soars Post-IPO

Cryptocurrency exchange Bullish BLSH made its entry onto the public market this week, with its stock soaring in a highly anticipated initial public offering. Here’s what investors need to know.

What To Know: Backed by billionaire venture capitalist Peter Thiel, Bullish began trading at $90.45 per share, substantially above its IPO price of $37 per share. The offering price itself had been upsized, signaling strong investor demand.

The market debut was marked by extreme volatility, leading to a temporary trading halt after the stock surged more than 200%. At its peak during the initial rally, the price reached $118, and the company’s market cap briefly exceeded $18 billion. The momentum continued, with shares rising over 11% in after-hours trading on its first day.

Bullish, founded in 2021 and led by former NYSE Group president Tom Farley, operates a crypto exchange designed for institutional clients and also owns the industry news outlet CoinDesk. The blockbuster listing attracted significant interest from large institutions like BlackRock and ARK Invest.

Cathie Wood’s ARK Invest notably purchased $172.22 million worth of BLSH shares across its innovation-focused ETFs. This week’s successful IPO also follows the company’s previously abandoned plan to go public through a SPAC merger in 2021 due to regulatory challenges.

Price Action: According to data from Benzinga Pro, BLSH shares are trading higher by 12.51% to $76.51 Thursday morning. The stock has a 52-week high of $118.00 and a 52-week low of $68.00.

Read Also: Robinhood Customers Hit 26.7 Million In July, Total Platform Assets Rise 7% As Crypto Volumes Surge

How To Buy BLSH Stock

By now you’re likely curious about how to participate in the market for Bullish – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy “fractional shares,” which allows you to own portions of stock without buying an entire share.

If you’re looking to bet against a company, the process is more complex. You’ll need access to an options trading platform, or a broker who will allow you to “go short” a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

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