Why Coinbase Global Stock Soared Today
Shares of Coinbase Global (NASDAQ: COIN) surged 23.8% higher at 2:30 p.m. ET on Tuesday, May 13. The operator of the leading cryptocurrency exchange in America will join the S 500 market index on its next update, scheduled for May 19.
Coinbase will replace the more traditional finance-sector company Discover Financial Services, ending Discover's 12-year tenure in the popular index.
Discover is moving out because fellow S&P component Capital One Financial is acquiring the company. The transaction will close on May 18, leaving an open seat around the S 500 table. The index's management team saw fit to introduce a cryptocurrency expert instead.
Source Fool.com
Coinbase Global Inc. Stock
€204.10
-1.710%
Our community is currently high on Coinbase Global Inc. with 51 Buy predictions and 5 Sell predictions.
As a result the target price of 319 € shows a very positive potential of 56.3% compared to the current price of 204.1 € for Coinbase Global Inc..
