Coinbase is joining the S&P 500, replacing Discover Financial Services in the benchmark index, according to a release on Monday. The change will take effect before trading on May 19. Discover is in the process of being acquired by Capital One Financial.

Shares of Coinbase Global ( COIN 25.01%) surged 23.8% higher at 2:30 p.m. ET on Tuesday, May 13. The operator of the leading cryptocurrency exchange in America will join the S&P 500 market index on its next update, scheduled for May 19.

Coinbase Global Inc., the largest US cryptocurrency exchange, will be added to the S&P 500 Index in the latest milestone for the booming digital-asset industry.

Despite the regulatory issues, Discover’s financial performance has improved since the Capital One takeover was announced. The company’s 2024 net income rose to $1.1 billion, or $4.25 per diluted share, compared with net income of $851 million, or $3.25 per diluted share, in 2023.

Coinbase is joining the S&P 500, replacing Discover Financial Services in the benchmark index, according to a release on Monday. The change will take effect before trading on May 19. Discover is in the process of being acquired by Capital One Financial.

Shares of Discover Financial Services DFS rose 6.52% to $202.47 Monday, on what proved to be an all-around great trading session for the stock market, with the S&P 500 Index SPX rising 3.26% to 5,844.19 and the Dow Jones Industrial Average DJIA rising 2.81% to 42,410.10.

Coinbase Global's shares jumped nearly 10 per cent in premarket trading on Tuesday after the cryptocurrency exchange became the first digital asset player to be included in the benchmark S&P 500 index.

The latest price target for Discover Financial servs (NYSE:DFS) was reported by Jefferies on May 7, 2025. The analyst firm set a price target for $180.00 expecting DFS to fall to within 12 months ...

This was the stock's second consecutive day of losses.