Why Coinbase Stock Was Moving Higher Today

Shares of Coinbase Global (NASDAQ: COIN), the leading cryptocurrency exchange in the U.S., were gaining for the second day in a row today. News that India is warming up to cryptocurrency with plans to impose a tax on it seemed to give the stock a boost as did Cathie Wood's ARK Invest, which bought shares of Coinbase yesterday for one of its exchange-traded funds (ETFs).

As of 1:13 p.m. ET on Tuesday, the cryptocurrency stock was up 4.3%.

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Source Fool.com