What's Going On With Coinbase Shares Friday?

Coinbase Global, Inc. COIN stock is moving higher on Friday following a rise in the price of Bitcoin BTC/USD above $67,000.

What To Know: Bitcoin is currently trading approximately 2.5% higher at $67,506 per data from Benzinga Pro.

Coinbase is trading at $239.65, a bit above its 50 day moving average of $233.06. It’s trading towards the lower end of its 52 week range which is from $237.56 to $249.16. The stock’s average session volume is 8.54 million which its trading below at 4.27 million.

Other crypto-linked stocks, such as Riot Platforms, Inc. RIOT and CleanSpark, Inc. CLSK, are also moving higher following the rise in the price of Bitcoin.

Coinbase is expected to report earnings on Thursday after the market closes. Analysts estimate an EPS of 94 cents and revenue of $1.40 billion. Earlier this week, Citigroup analyst Peter Christiansen upgraded Coinbase Glb from Neutral to Buy and raised the price target from $260 to $345.

How To Buy Coinbase Stock

Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.

For example, in Coinbase Glb COIN's case, it is in the Financials sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.

See Also: Dogecoin’s Price Increased More Than 4% Within 24 hours

COIN Price Action: Coinbase shares are trading 4.4% higher at $241.74, according to data from Benzinga Pro.

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