Coinbase's stock surged 27.8% in the first half of 2024 due to SEC approval of spot Bitcoin ETFs

From NASDAQ
July 14, 2024 9:50:47 pm:

Coinbase Global’s shares (NASDAQ: COIN) surged 27.8% in the first half of 2024, benefiting from the SEC’s approval of spot Bitcoin ETFs earlier this year. The platform saw massive trading volume, hitting $312 billion in the first quarter alone, and its earnings skyrocketed with $1.2 billion in net income.

Despite facing legal challenges from the SEC regarding securities laws, Coinbase remains a key player in the crypto market. The company offers additional services like stablecoins, staking, financing, and custodial services to diversify its earnings. With high volatility and strong growth potential, Coinbase is an appealing stock for long-term investors.

Consideration is recommended before investing $1,000 in Coinbase Global stock, as it wasn’t among the Motley Fool’s 10 best stocks for investors to buy now. The Stock Advisor service has outperformed the S&P 500 since 2002, providing expert guidance and stock picks for success in the market.

Read more at Nasdaq: Why Coinbase Surged 27.8% in the 1st Half of 2024