Why Coinbase Global Rose 4% Today

Coinbase Global (NASDAQ: COIN) shareholders beat the market on Monday as the stock rose 4% by 12:30 p.m. ET. The S&P 500 was up about 1% in that time. Coinbase benefited from another rebound in prices for many popular cryptocurrencies.

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The business, which provides a marketplace for cryptocurrencies and other digital assets, tends to perform well when prices for these assets jump. That's just what happened in early Monday trading, during which Bitcoin crossed $51,000.

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Source Fool.com