Coinbase Joins S&P 500 in Landmark Moment for Crypto, Stock Soars
Coinbase (Nasdaq: COIN), the largest cryptocurrency exchange in the United States, is set to make history as the first pure-play crypto firm to be included in the prestigious S&P 500 index.
Shares of Coinbase are now around 11% up in after-hours trading following the news. The stock, which closed Monday at $207.22 (up 3.96%), traded as high as $229.90 in after hours, reflecting investor enthusiasm for this landmark inclusion. Coinbase will officially join the S&P 500 before the start of trading on May 19th, replacing Discover Financial Services in the benchmark index that tracks the financial performance of 500 leading publicly traded companies in the US.
Coinbase went public in a direct listing on the Nasdaq in April 2021, when…
