Robinhood, Coinbase And This Bitcoin ETF Hit New 52-Week Highs As BTC Spikes To $57,000
Portfolio Pulse from Surbhi Jain
Robinhood Markets, Coinbase Global, and the ProShares Bitcoin Strategy ETF hit new 52-week highs as Bitcoin spikes to $57,000. Robinhood's stock surged over 65% in the past year, with a new high of $16.25, despite a Neutral rating. Coinbase's stock, up 64.5% over the past year, reached $209.94, with a Buy rating and a price target of $129.74. The ProShares ETF, tracking Bitcoin futures, soared 86.5% over the past year, hitting a new high of $27.12.
February 27, 2024 | 4:17 pm
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POSITIVE IMPACT
The ProShares Bitcoin Strategy ETF hit a new 52-week high of $27.12, up 86.5% over the past year, benefiting from Bitcoin's rise.
BITO's surge is a direct result of Bitcoin's performance, indicating a strong correlation and a positive short-term impact on the ETF.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
Coinbase's stock reached a new 52-week high of $209.94, up 64.5% over the past year, with a Buy rating and a price target of $129.74.
Coinbase's performance is closely tied to the cryptocurrency market, especially Bitcoin. The Buy rating and recent highs suggest a positive outlook.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Robinhood's stock surged over 65% in the past year, reaching a new 52-week high of $16.25, despite a Neutral analyst rating and a consensus price target of $14.38.
The surge in Robinhood's stock is directly linked to the Bitcoin rally, indicating a positive short-term impact. However, the Neutral rating suggests caution.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90