Coinbase Global (COIN) stock surged 11.3% due to Bitcoin rise and positive outlook

From Nasdaq

October 15, 2024 07:47:00 am:

Coinbase Global, Inc. (COIN) shares surged 11.3% to $196.35 with high trading volume. This was driven by Bitcoin’s rise, nearing $66,000. Vice President Kamala Harris’ positive stance on crypto also contributed to the increase. COIN aims to expand crypto use to 1 billion+ people and is investing in infrastructure.

COIN is expected to report quarterly earnings of $0.34 per share (+3500% YoY) and revenues of $1.25 billion (+84.8%). While earnings and revenue growth are positive indicators, recent declines in earnings estimates may impact future stock prices. Keep an eye on COIN, currently holding a Zacks Rank #3.

Flyware, in the same industry as COIN, saw a 0.1% drop in stock price to $16.47. Expectations for Flyware’s upcoming EPS have risen +57.1% to $0.11 in the past month. With a Zacks Rank of #3, investors are advised to monitor the company closely for potential growth opportunities.

Read more at Nasdaq: Coinbase Global (COIN) Moves 11.3% Higher: Will This Strength Last?