Reported about 21 hours ago
Coinbase Global Inc. has surged 34% this week, driven by its inclusion in the S&P 500 Index, despite facing challenges from a significant hack and an ongoing regulatory investigation. While the announcement boosted confidence in the company, the recent hack, projected to cost $400 million, and scrutiny from U.S. regulators cast a shadow on its progress, leading to a 7.2% drop in stock price. Analysts remain optimistic about the long-term outlook, suggesting strong demand from funds tracking the index will support the stock.
Source: YAHOO