Streetbeat News

COIN

Coinbase Global, Inc.

https://www.coinbase.com

Industry

Software - Application

Coinbase Global, Inc. provides financial infrastructure and technology for the cryptoeconomy in the United States and internationally. The company offers the primary financial account in the cryptoeconomy for retailers; a marketplace with a pool of liquidity for transacting in crypto assets for institutions; and technology and services that enable ecosystem partners to build crypto-based applications and securely accept crypto assets as payment. Coinbase Global, Inc. was founded in 2012 and is based in Wilmington, Delaware.

Open

282.51

Mkt cap

77B

Volume

18M

High

306.45

P/E Ratio

52.02

52-wk high

334.86

Low

276.02

Div yield

N/A

52-wk low

94.90

Shares of Coinbase Global Inc (COIN), Marathon Digital Holdings Inc (MARA), and Riot Platforms Inc (RIOT) are rising due to an increase in Bitcoin's price over the weekend, surpassing $40,000. The crypto rally is driven by optimism for a potential spot Bitcoin ETF and expectations of a Federal Reserve rate cut in 2024. Coinbase shares are up nearly 9%, Marathon Digital's stock rose 13.6%, and Riot Blockchain's shares increased by 11.7%.

Portfolio Pulse from Adam Eckert

December 04, 2023 | 2:15 pm

U.S. stock futures indicate a weak opening as investors react to Fed Chair Powell's comments on potential policy tightening. Gold prices hit record highs amid geopolitical tensions, while Bitcoin soars past $40,000. Crude oil prices drop due to OPEC+ output cuts and demand concerns. Premarket trading sees SPY and QQQ ETFs down, while individual stocks like COIN, UBER, SPOT, SAIC, and ALK show significant movements. ALK's planned acquisition of HA causes a surge in HA's stock.

Portfolio Pulse from Piero Cingari

December 04, 2023 | 2:14 pm

Four financial stocks are considered overbought based on their RSI values, which may signal a potential short-term decline. Coinbase Global (COIN) has an RSI of 87.12, PJT Partners (PJT) 79.84, Houlihan Lokey (HLI) 75.74, and Live Oak Bancshares (LOB) 72.69. COIN recently saw a price target increase from Mizuho, PJT and HLI are set to join S&P indices, and LOB appointed a new CFO.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 1:39 pm

Coinbase shares are experiencing an uptick due to a significant increase in Bitcoin's value over the weekend.

Portfolio Pulse from Luke J Jacobi

December 04, 2023 | 1:23 pm

Shares of cryptocurrency-related stocks have risen following a surge in the price of Bitcoin on Monday. Companies with a focus on cryptocurrency operations, such as mining and investment, have seen their stock prices increase in response to Bitcoin's price movement.

Portfolio Pulse from Charles Gross

December 04, 2023 | 10:27 am

Bitcoin (BTC/USD) reached approximately $39K, the highest level since May 2022, despite regulatory pressures. The cryptocurrency market's total capitalization surpassed $1.5 trillion. Crypto-related stocks like Coinbase (COIN), Marathon Digital (MARA), Riot Platforms (RIOT), Bakkt Holdings (BKKT), and HIVE Digital Technologies (HIVE) are rising in response. MicroStrategy continues to purchase Bitcoin, and CleanSpark (CLSK) reported mining 666 bitcoins in November, holding 2.575 bitcoins as of November 30.

Portfolio Pulse from Lekha Gupta

December 01, 2023 | 6:09 pm

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 4:45 pm

Ark Invest, led by Cathie Wood, sold 37,377 shares of Coinbase Global Inc (COIN) through the ARK Next Generation Internet ETF (ARKW). The firm also adjusted its portfolio by adding shares of Robinhood, 10X Genomics Inc (TXG), Teladoc Inc (TDOC), and Pure Storage Inc (PSTG), while selling shares of Shopify Inc (SHOP). These trades reflect Ark's strategic shifts in response to market trends and anticipation of a Bitcoin spot ETF approval.

Portfolio Pulse from Benzinga Neuro

December 01, 2023 | 3:56 am

Swiss asset management firm Pando Asset AG has filed an S-1 registration statement for a spot Bitcoin ETF, aiming to list it on Nasdaq under the symbol PBC. The Bank of New York Mellon (BK) is to be the administrator, while Coinbase (COIN) is the custodian. Pando acknowledges competitive risks, including the potential for inadequate liquidity and the challenge of accumulating significant assets. The SEC has over 10 pending Bitcoin ETF applications from companies like BlackRock (BLK), Fidelity, and Ark Invest.

Portfolio Pulse from Murtuza Merchant

November 30, 2023 | 12:49 am

Cathie Wood's ARK Innovation ETF (ARKK) recorded a 35% gain in November, its best month since inception. ARK Fintech Innovation ETF (ARKF) also performed similarly. Despite these gains, ARKK is still 70% below its peak from February 2021. The performance was influenced by the Federal Reserve's steady interest rates and expectations of future rate cuts. Top contributors to ARKK's performance include Coinbase Global Inc (COIN), Roku, Inc. (ROKU), and Block, Inc. (SQ).

Portfolio Pulse from Piero Cingari

November 29, 2023 | 6:32 pm

All corporate logos and prices are for illustrative purposes only and are not a recommendation, an offer to sell, or a solicitation of an offer to buy any security.