Coinbase Crushed Tesla, Amazon And Other Mag 7 Peers In Recent Rally — Here’s What Drove The Stunning Comeback

Cryptocurrency exchange Coinbase Global Inc. overtook several Wall Street behemoths in a stunning rally last month, driven by its historic inclusion in the S&P 500 and renewed cryptocurrency optimism.

What happened: The Nasdaq-listed company soared nearly 30% in the last month, marking a sharp reversal from its meltdown in April. The firm’s stock was up 70% since its yearly low of $151.47.

In doing so, COIN outgained some of the biggest technology companies on the planet. As evident, its returns over the last month beat Amazon, Google’s parent company Alphabet, electric vehicle juggernaut Tesla and all the other stocks in the high-performing “Magnificent 7” cohort.

Full story available on Benzinga.com