What's Going On With Coinbase Shares Friday?
Portfolio Pulse from Dylan Berman
Coinbase Global, Inc. (NASDAQ:COIN) shares are moving higher on Friday following a rise in Bitcoin's price above $67,000. Other crypto-linked stocks like Riot Platforms, Inc. (NASDAQ:RIOT) and CleanSpark, Inc. (NASDAQ:CLSK) are also seeing gains. Coinbase is trading at $239.65, slightly above its 50-day moving average, and is expected to report earnings next Thursday. Citigroup recently upgraded Coinbase from Neutral to Buy, raising the price target to $345.
July 26, 2024 | 4:39 pm
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POSITIVE IMPACT
CleanSpark shares are moving higher following the rise in Bitcoin's price above $67,000.
CleanSpark is closely linked to Bitcoin's price movements, and the rise in Bitcoin positively impacts its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Coinbase shares are rising due to Bitcoin's price surge and a recent upgrade from Citigroup. The stock is trading above its 50-day moving average and is expected to report earnings next Thursday.
The rise in Bitcoin's price directly impacts Coinbase's trading volume and revenue. Additionally, the upgrade from Citigroup and the upcoming earnings report add positive sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Riot Platforms shares are moving higher following the rise in Bitcoin's price above $67,000.
Riot Platforms is closely linked to Bitcoin's price movements, and the rise in Bitcoin positively impacts its stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50