{"id":34392,"date":"2023-07-11T21:16:38","date_gmt":"2023-07-12T01:16:38","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/coinbases-stock-flies-toward-an-11-month-high-and-has-soared-more-than-25-this-month\/"},"modified":"2023-07-11T21:16:39","modified_gmt":"2023-07-12T01:16:39","slug":"coinbases-stock-flies-toward-an-11-month-high-and-has-soared-more-than-25-this-month","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=34392","title":{"rendered":"Coinbase\u2019s stock flies toward an 11-month high, and has soared more than 25% this month"},"content":{"rendered":"
\n

Shares of Coinbase Global Inc.
\n COIN,
\n +9.78%<\/bg-quote>
\n spiked 10.3% higher in afternoon trading Tuesday, to put them on track to close at an 11-month high, despite bitcoin
\n BTCUSD,
\n -0.11%<\/bg-quote>
\n edging up just 0.3%. The cryptocurrency exchange\u2019s stock has been on a tear recently, as it has soared 25.2% just in July, after running up 15.0% in June and rallying 15.6% in May. Meanwhile, bitcoin has inched up 0.1% in July, after soaring 11.8% in June and falling 7.2% in May. Since Coinbase went public in April 2021, the correlation between the stock and bitcoin has been 0.92%, in which 1.00 would mean the moved perfectly in tandem, according to a MarketWatch analysis of FactSet data. Helping fuel recent investor interest in Coinbase, as well as in bitcoin, BlackRock Inc.
\n BLK,
\n +2.02%<\/bg-quote>
\n and several other asset managers recently filed applications for exchange-traded products that invest in bitcoin, and named Coinbase as their partner for surveillance sharing agreements. Coinbase\u2019s stock surge comes as the S&P 500
\n SPX,
\n +0.67%<\/bg-quote>
\n edged up 0.4% on Tuesday, but has slipped 0.5% month to date.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Coinbase Global Inc. COIN, +9.78% spiked 10.3% higher in afternoon trading Tuesday, to put them on track to close at an 11-month high, despite bitcoin BTCUSD, -0.11% edging up just 0.3%. The cryptocurrency exchange\u2019s stock has been on a tear recently, as it has soared 25.2% just in July, after running up 15.0% […]<\/p>\n","protected":false},"author":1,"featured_media":1383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-34392","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nCoinbase\u2019s stock flies toward an 11-month high, and has soared more than 25% this month | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Shares of Coinbase Global Inc. 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