Coinbase Stock Surges 24% After S&P 500 Inclusion Announcement
By: bitcoinsensus|2025/05/14 06:01:19
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On May 12, 2025, Coinbase was announced as the newest member of the S&P 500, replacing Discover Financial Services in the index. The inclusion—set to take effect before the market opens on May 19, 2025—marks a major milestone for the crypto industry, as Coinbase becomes the first crypto-focused company to join the index. The S&P 500 is widely regarded as a benchmark for the U.S. stock market, tracking the performance of 500 of the largest publicly traded companies. For Coinbase, this inclusion signals mainstream recognition of crypto’s growing role in financial markets. Coinbase’s stock exploded following the S&P 500 announcement, surging over 24% after the announcement. COIN is up by 24% in the day, adding up to a substantial 28.90% increase over the last five days. The momentum carried into trading on May 13, 2025, with Coinbase opening hitting $250 per share within minutes of the open according to Yahoo . Analysts at Oppenheimer raised the Coinbase price target to $293—maintaining an ‘Outperform’ rating. This significant upgrade happened directly after the S&P Index Committee’s announcement yesterday that the crypto company will be joining the index by May 19. If these estimations are correct and Coinbase’s stock hits Oppenheimer’s price target of $293, that would represent a 14% increase from its current price of $256.90. If you’re looking to get started with WEEX , they offer rewards for completing simple tasks like making a 500 USDT deposit and reaching 100,000 USDT in trading volume . Learn more about how to get started here.
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