Investing Updates : Coinbase to become the first crypto firm to join the S&P 500

Source : 

https://cointelegraph.com/news/coinbase-listed-s-and-p-500-may-19?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Apple Intelligence : 

• Coinbase’s Inclusion: Coinbase will join the S&P 500 on May 19, becoming the first crypto firm in the index.

• S&P 500 Significance: The S&P 500 tracks the performance of 500 large US companies and is a broad measure of the US stock market.

• Impact on Coinbase: Inclusion in the S&P 500 is expected to increase demand for Coinbase stock as index funds and ETFs must buy its shares.

• Stock Performance: Coinbase shares rose 8.8% to $225.4 in after-hours trading and finished the trading day up 4%.

• Market Recognition: Coinbase’s inclusion in the S&P 500 index is seen as a major milestone for the company and the crypto industry.

• S&P 500 Inclusion Criteria: Companies must be profitable, trading on a major US stock exchange, generating at least half of their revenues in the US, and have a market cap above $18 billion.