What Happened?
Shares of blockchain infrastructure company Coinbase (NASDAQ: COIN) jumped 3.9% in the afternoon session after the company announced a collaboration with Citigroup to develop digital asset payment capabilities for its institutional clients. The partnership aimed to make it easier for large companies and financial firms to move money between traditional bank accounts and cryptocurrencies. This collaboration focused on improving the bridges between the traditional financial system and the crypto world. The companies also planned to explore using stablecoins for faster global payments.
The shares closed the day at $361.49, up 2% from previous close.
Is now the time to buy Coinbase? Access our full analysis report here.
What Is The Market Telling Us
Coinbase’s shares are extremely volatile and have had 56 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The previous big move we wrote about was 3 days ago when the stock gained 8.7% on the news that JPMorgan upgraded the stock's rating and raised its price target. The investment bank lifted its rating on Coinbase from “Neutral” to “Overweight.” Analyst Kenneth Worthington also increased the price target on the shares to $404 from a previous target of $342. The upgrade was based on what JPMorgan saw as new opportunities for the company to make money and an attractive valuation compared to its peers in the cryptocurrency space. The move also came as the broader crypto market showed signs of strength, with assets like Bitcoin and Ethereum also posting gains.
Coinbase is up 39.7% since the beginning of the year, but at $359.40 per share, it is still trading 14.4% below its 52-week high of $419.78 from July 2025. Investors who bought $1,000 worth of Coinbase’s shares at the IPO in April 2021 would now be looking at an investment worth $1,095.
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
