Coinbase stock rises 34% with S&P 500 inclusion, but drops 7.2% due to hack and probe risks

From Yahoo Finance: 2025-05-16 16:11:00

Coinbase Global Inc. saw a 34% rise in shares over the past week, fueled by news of its inclusion in the S&P 500 Index. However, a $400 million hack and regulatory investigations led to a 7.2% drop in stock. Inclusion in the index will require passive funds to buy shares, but concerns remain about customer trust and potential competition from rivals like Robinhood. Analysts warn of a possible selloff next week and broader implications for the crypto industry if Coinbase’s S&P 500 entry falters. Despite challenges, Coinbase remains a major player in the US crypto exchange market, with recent revenue growth and a move into derivatives through the acquisition of Deribit.



Read more at Yahoo Finance: Coinbase Boosted by S&P 500 Inclusion Despite Hack, Probe Risks