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Coinbase Global Soars 9.34% on S&P 500 Inclusion
Generated by AI AgentMover Tracker
Tuesday, May 13, 2025 4:32 am ET1min read
On May 13, 2025,
Global's stock surged by 9.34% in pre-market trading, marking a significant rise for the cryptocurrency exchange.Coinbase Global Inc. is set to join the S&P 500 index on May 19, as announced by S&P Dow Jones Indices. This inclusion is expected to boost the company's visibility and attract more institutional investors, potentially driving further growth in its stock price.
The news of Coinbase's addition to the S&P 500 has been met with enthusiasm by investors, leading to a notable increase in the company's share price. This move is seen as a validation of Coinbase's position in the cryptocurrency market and its potential for future growth.
Coinbase will replace Discover Financial Services in the S&P 500, effective prior to the opening of trading on May 19. This change is part of a broader adjustment to the index, which aims to better reflect the current market landscape.
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