Shares of cryptocurrency exchange Coinbase hit a new record of $433, the first time since the company's IPO in 2021.
New Record for Coinbase Shares
Coinbase shares reached a new record with an intraday high of $433, leading to an increase in the company's market capitalization to nearly $110 billion.
Historical Volatility of Shares
The previous record for Coinbase shares of $429 was set in April 2021 during the IPO boom. Since then, the shares experienced significant fluctuations, including a sharp drop to $31 in late 2022 due to the FTX-induced market crash.
Analyst Opinions on Coinbase's Future
Analysts have noted the recent surge in Coinbase's shares, linking it to major regulatory breakthroughs and the anticipated inclusion in the S&P 500. Bernstein raised its price target to $510, expecting further upward momentum.
The new record for Coinbase shares illustrates significant changes in the cryptocurrency market and increasingly positive sentiment among investors.
