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

183.80

Mkt cap

46B

Volume

9.2M

High

186.72

P/E Ratio

19.30

52-wk high

349.75

Low

179.16

Div yield

N/A

52-wk low

146.12

Ark Invest, led by Cathie Wood, sold over $1.4 million worth of Coinbase (COIN) shares and purchased additional shares of Robinhood (HOOD). The transactions occurred as Bitcoin (BTC) trades above $40,000, indicating a bullish crypto market. Ark's trades through its ETFs ARKK and ARKF suggest a strategic portfolio adjustment in the fintech and cryptocurrency sectors. The firm also invested in Toast Inc (TOST) and PagerDuty Inc (PD), reflecting confidence in digital payment, restaurant technology, and cloud computing.

Portfolio Pulse from Benzinga Neuro

December 05, 2023 | 3:30 am

Crypto analysts and industry leaders predicted a significant rebound in Bitcoin and other cryptocurrencies, despite the recent market downturn. Standard Chartered predicted Bitcoin reaching six figures by 2024, Matrixport foresaw a rise to $56,000 by year-end, and Tim Draper maintained a $250,000 target by 2025. Samson Mow suggested Bitcoin could hit $1 million in five years, while Mike Novogratz eyed a $500,000 target. ARK Invest's Cathie Wood envisioned Bitcoin reaching up to $1.5 million, and Coinbase CEO Brian Armstrong hinted at a potential rally due to institutional FOMO.

Portfolio Pulse from Murtuza Merchant

December 04, 2023 | 10:23 pm

Stocks opened December with losses amid reduced expectations for a Fed rate cut in March 2024. Treasury yields rose, affecting stocks and commodities, with the S&P 500, Nasdaq, and Dow Jones all falling. Small-cap stocks and Bitcoin gained, while commodities and tech stocks declined. Sector ETFs saw mixed performance, with healthcare and consumer staples stable, but communication services and technology sectors down. Notable stock movements included gains for Coinbase, SAIC, Uber, Gamestop, and Spotify, while Alaska Air Group fell after announcing an acquisition of Hawaiian Holdings, which surged.

Portfolio Pulse from Piero Cingari

December 04, 2023 | 7:32 pm

Coinbase CEO Brian Armstrong believes Bitcoin can uphold Western values and act as a check and balance for the U.S. dollar. Contrary to the view that cryptocurrencies threaten fiat currencies, Armstrong sees them as complementary, with Bitcoin supporting American interests and stablecoins like USDC bridging the gap between fiat and crypto.

Portfolio Pulse from Murtuza Merchant

December 04, 2023 | 6:30 pm

Science Applications International Corporation (SAIC) reported Q3 results with a slight revenue decline but beat consensus estimates and raised FY24 guidance, causing its shares to surge by 6.9%. Other stocks also moved higher, including Hawaiian Holdings (HA) after an acquisition announcement by Alaska Air Group (ALK), and several companies like Wallbox (WBX), CleanSpark (CLSK), and Carvana (CVNA) due to various positive developments. Uber (UBER) rose after news it would join the S&P 500 index.

Portfolio Pulse from Lisa Levin

December 04, 2023 | 3:33 pm

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

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.