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
€126.72
-10.510%
Currently there is a rather positive sentiment for Coinbase Global Inc. with 68 Buy predictions and 12 Sell predictions.
With a target price of 228 € there is a hugely positive potential of 79.92% for Coinbase Global Inc. compared to the current price of 126.72 €.
