Coinbase Stock Rises 8% Following S&P 500 Inclusion Announcement
Coinbase (COIN) shares increased by over 8% following the announcement of its inclusion in the S&P 500 index, replacing Discover Financial on May 19. The S&P 500 represents 500 major U.S. companies across various sectors.
- Coinbase market cap approaches $53 billion.
- Significant milestone for the digital asset industry, enhancing investor exposure to crypto.
- Analysts predict a substantial increase in trading volume due to index inclusion.
- Post-market shares reached $225, reflecting an 8.6% gain after the announcement.