Coinbase Shares Should Benefit from Slated Inclusion in S&P 500 — Market Talk

Coinbase Global will benefit from its coming inclusion in the S&P 500. The U.S. cryptocurrency exchange's addition will position it to benefit from passive investment flows into funds that track that index that will be required to purchase shares of Coinbase to match the index, says Benchmark's Mark Palmer in a research note. "This additional source of buying pressure should help to support the company's share price," the analyst says. Shares surge 22% to $252.40, on pace for its highest close since Feb. 20. ([email protected]; @pennedbyden)