US EditionCoinbase to join S&P 500 as shares soar in after-hours trading
- Coinbase Global Inc., the largest U.S. Crypto exchange based in San Francisco, will join the S&P 500 before trading on May 19, 2025, replacing Discover Financial Services.
- The inclusion follows Discover's acquisition by Capital One and Coinbase's earlier public listing through a direct listing in April 2021.
- Although Coinbase fell short of revenue forecasts in its most recent quarter, the company posted a net profit of $65.6 million and revealed a $2.9 billion deal to acquire Deribit, a prominent crypto derivatives platform.
- Shares of Coinbase rose over 10% in after-hours trading, closed Monday at $207.22 with a market capitalization near $53 billion, and CEO Brian Armstrong credited the milestone to supporters.
- Coinbase’s S&P 500 entry marks the first crypto company in the index and signals the crypto sector’s increasing integration into mainstream finance.
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Coinbase stock is surging, with the exchange set to be the first crypto firm in the S&P 500
Coinbase said last Friday that the SEC was ending its lawsuit against the crypto exchange.Shannon Stapleton/ReutersCoinbase shares jumped by double digits on Tuesday.The exchange is set to be the first crypto firm to be included in the S&P 500.Coinbase will replace Discover Financial on May 19.The move: Coinbase stock rose as much as 15% on Tuesday, reaching an intraday high of $240.13 per share. The stock is down 4.5% year-to-date. Why: The big…
Coinbase is replacing Discover on the S&P 500 stock market index: Here’s why and what that means
One of the world’s most well-known stock market indexes, the S&P 500, will soon look a little different. That’s because its roster of 500 companies is getting a shakeup, which will see the cryptocurrency exchange Coinbase Global join the index. In the process, Coinbase will replace legacy financial services company Discover Financial. Here’s what you need to know about the changes coming to the S&P 500. What is the S&P 500? The S&P 500 is one of…
Coinbase Stock Jumps Nearly 11% After-Hours Monday: Here's Why - Apple (NASDAQ:AAPL), Coinbase Global (NASDAQ:COIN)
Coinbase Global Inc., America's largest crypto exchange, is set to join the S&P 500, replacing Discover Financial Services (NYSE: DFS) in the benchmark index, according to a Monday announcement.
The Coinbase market becomes the first crypto firm to enter the S&P 500 index
The Coinbase crypto-active market will become next week the first firm in the sector that enters the S&P 500 stock market index. The value will replace next May 19 before the opening of the session to Discover Financial Services, as announced by the index manager this Monday through a statement.The substituted financial firm has been acquired by Capital One in a transaction that will close soon.Continue reading
Coinbase to join S&P 500 as shares soar in after-hours trading
Coinbase Global Inc. will join the S&P 500 next week, the first-ever crypto company to be included in the benchmark index. Coinbase soared in extended trading after the move was announced Monday.
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