On September 18, Coinbase Global, Inc. rose 5.02% in regular trading, trading at $182.16/share, with turnover of $321 million. The rally was driven by a confluence of regulatory tailwinds and a strategic business expansion announcement.
On the news front, Coinbase announced it had filed with regulators to list perpetual futures contracts (Perps) tied to major US equities — leveraged derivatives with no expiration date — marking a significant push into traditional financial derivatives. Simultaneously, the SEC introduced a five-year exemption period for tokenized stock trading, a move that broadly lifted crypto-related equities. Coinbase CEO Brian Armstrong had previously advocated for bringing tokenized stocks to the US market, and the regulatory green light directly supports this initiative.
Multiple analyst actions further underpinned sentiment. Needham raised its price target to $200, Goldman Sachs lifted its target to $219 maintaining a Buy rating, Morgan Stanley initiated coverage at Neutral with a $250 target, and Compass Point upgraded the stock to Neutral from Sell. Coinbase also recently lowered trading fees on its Advanced platform. These catalysts helped the stock rebound from a dip to $164.51 earlier in the week driven by CLARITY Act uncertainty and Bitcoin weakness.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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