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We recently published a list of 10 Firms Crushing the Market. In this article, we are going to take a look at where Coinbase Global, Inc. (NASDAQ:COIN) stands against other firms that are crushing the market.
The stock market finished the trading day on a mixed note, as investors continued to digest April inflation figures, which came out lower than expected.
On Tuesday, the Labor Department reported that the Consumer Price Index for April rose by only 0.2 percent last month, bringing the annual inflation rate to 2.3 percent, its lowest annual rate since February 2021.
Among Wall Street’s main indices, only the S&P 500 and the tech-heavy Nasdaq registered gains, by 0.72 percent and 1.61 percent, respectively. The Dow Jones, on the other hand, was down by 0.64 percent.
Beyond the major indices, 10 companies finished the session with strong gains amid a flurry of positive developments, including ratings upgrades and impressive corporate earnings, among others.
In this article, we name Tuesday’s 10 top performers and detail the reasons behind their rally.
To come up with the list, we considered only the stocks with a $2-billion market capitalization and $5-million trading volume.
A shot of someone securely accepting crypto assets as payment, showcasing the company's payment solutions.
Coinbase Global, Inc. (NASDAQ:COIN)
Coinbase Global Inc. soared by 23.97 percent on Tuesday to end at $256.90 apiece as investors cheered its inclusion in the S&P 500 index.
By May 19, Coinbase Global, Inc. (NASDAQ:COIN) will replace Discover Financial Services, which ended its 12-year tenure in the index after its planned merger with fellow S&P 500 component, Capital One Financial.
In the first quarter of the year, Coinbase Global, Inc. (NASDAQ:COIN) said net income nosedived by 94 percent to $66 million from $1.176 billion reported in the same period last year.
Net revenues, however, were higher by 23.4 percent to $1.96 billion from $1.588 billion year-on-year.
“Looking ahead, we’re focused on expanding real-world crypto utility, strengthening and extending our trading platform, and scaling the infrastructure that will power the financial system of the future,” the company said.
Additionally, Coinbase Global, Inc. (NASDAQ:COIN) said it is set to acquire Deribit, an Exchange platform for cryptocurrencies, for $2.9 billion.
Overall, COIN ranks 1st on our list of firms that are crushing the market. While we acknowledge the potential of COIN as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than COIN but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.