Latest news with #COIN
Yahoo
2 hours ago
- Business
- Yahoo
Jim Cramer has one-word response as Robinhood stock surges toward S&P 500
Jim Cramer has one-word response as Robinhood stock surges toward S&P 500 originally appeared on TheStreet. Robinhood is back in the spotlight, and it's not just traders who've noticed. CNBC's Jim Cramer had a one-word reaction on X: 'Memed.' The post came as Robinhood Markets (HOOD) hit $72.27, with pre-market data showing it climbing another 2% to $73.75. The spike follows growing speculation that Robinhood could soon be added to the S&P 500 Index — a move that would force passive investment funds to buy shares, possibly pushing the price even higher. Bank of America analysts on Wednesday named Robinhood a 'prime candidate' for the upcoming S&P 500 rebalancing, citing a meeting among investors about index changes for financial stocks. 'We expect significant buying activity from passive funds,' the report stated, noting that companies added to major indices often experience 'significantly higher interest from long-only portfolio managers.' Robinhood, which initially rose to prominence as the app of choice for retail traders during the GameStop short squeeze in 2021, has since leaned deeper into crypto. The platform now offers trading for Bitcoin, Ethereum, and a host of other cryptocurrencies, positioning itself as a simplified alternative to more advanced exchanges. Its crypto arm has grown notably over the past year as the digital asset market rebounded. With Bitcoin trading above $100,000 and meme coins exploding on Solana, Robinhood has benefited from a surge in both equities and crypto. The company reported record highs this week, not seen since its IPO frenzy nearly four years ago. Robinhood's rise mirrors that of Coinbase (COIN), another publicly traded platform that was added to the S&P 500 in May. COIN shares surged 34% the week its inclusion was announced, despite ongoing regulatory scrutiny and a major hack. Notably, the exchange agreed to acquire Deribit, the world's leading crypto derivatives exchange, for around $2.9 billion in early May. Investors are now wondering if Robinhood could see a boost similar to that of Coinbase — though some, like Cramer, are already hinting at frothy momentum. While Cramer didn't elaborate beyond 'Memed,' his tone suggests he sees echoes of meme stock mania driving HOOD's rise. Jim Cramer has one-word response as Robinhood stock surges toward S&P 500 first appeared on TheStreet on Jun 5, 2025 This story was originally reported by TheStreet on Jun 5, 2025, where it first appeared.
Yahoo
a day ago
- Business
- Yahoo
QDWN, VIXY Among ETFs Posting Biggest Declines in May 2025
Exchange-traded funds utilizing options strategies and volatility exposure led May's worst-performers among non-leveraged funds, with the DailyDelta Q100 Downside Option Strategy ETF (QDWN) falling the most at 43%, according to FactSet data. With $192,500 in assets under management, QDWN pursues short-term bearish bets on the Nasdaq-100 Index through put options purchases, according to FactSet. The actively managed strategy seeks capital appreciation while limiting single-day risk to 10% or less of net asset value. Posting the second-worst performance is the YieldMax Short COIN Option Income Strategy ETF (FIAT), which declined 33%, according to FactSet. Holding $49.8 million in assets, the fund aims to provide current income and inverse exposure to Coinbase Global, Inc. (COIN) stock through a synthetic covered put strategy. Volatility-focused products also struggled during May. Both the ProShares VIX Short-Term Futures ETF (VIXY) and iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX) declined 27%, according to FactSet data. Tracking futures contracts on the CBOE Volatility Index with average one-month maturity, the VIXY fund holds $129.7 million in assets. With $389.3 million in assets, the VXX product provides similar short-term VIX futures exposure but operates as an exchange-traded note rather than a traditional ETF structure, according to FactSet. Worst-Performing ETFs of May 2025—Source: FactSet The YieldMax Short N100 Option Income Strategy ETF (YQQQ) posted a 13% loss, according to FactSet. With $11.7 million in assets, the fund employs a synthetic covered put strategy targeting inverse exposure to the Nasdaq-100 Index while generating monthly income. Rounding out the top five decliners is the WisdomTree Efficient Gold Plus Gold Miners Strategy Fund (GDMN), which declined 10%, according to FactSet. This $36.6 million actively-managed fund provides concentrated exposure to gold through both mining company equities and U.S.-listed gold futures contracts. Mining-focused ETFs continued the decline pattern as the iShares MSCI Global Silver Miners ETF (SLVP) fell 9%, according to FactSet. Holding $282.9 million in assets, the fund tracks a market-cap-weighted index of global companies that earn the majority of their revenues from silver mining. Multiple funds tied at 8% declines. Through an actively managed market-neutral strategy, the AGF U.S. Market Neutral Anti-Beta Fund (BTAL) takes long positions in low-beta U.S. stocks offset by short positions in high-beta stocks, with $318.6 million in assets. Natural gas exposure also hurt performance as the United States Natural Gas Fund LP (UNG) fell 8%, according to FactSet. With $363.3 million in assets, the fund holds near-month futures contracts in natural gas delivered at Henry Hub, Louisiana, rolling expiring contracts to maintain front-month exposure. Automated trading strategies struggled as the TradersAI Large Cap Equity & Cash ETF (HFSP) posted an 8% decline, according to FactSet. With $848,200 in assets, the fund uses proprietary algorithms with human oversight to trade S&P 500 Index e-mini futures positions based on intraday price movements. Completing the worst-performers list is the Themes Gold Miners ETF (AUMI), which also lost 8%, according to FactSet. With $10.4 million in assets, the fund tracks a market-cap-weighted index of the 30 largest gold-mining companies | © Copyright 2025 All rights reserved
Yahoo
25-05-2025
- Business
- Yahoo
Circle Has Explored Potential $5B Sale to Coinbase or Ripple Instead of IPO: Report
Stablecoin issuer Circle, which filed for an initial public offering (IPO) last month, has explored the alternative of a sale to crypto exchange Coinbase (COIN) or payments company Ripple, according to a Monday report by Fortune. The New York-based issuer of USDC, the second-largest stablecoin, took part in informal talks over a potential sale from which it was seeking at least $5 billion, Fortune reported, citing people who asked not to be identified. This figure would be line with the company's valuation by investment banks JPMorgan and Citi, which Circle had hired to help with the IPO. Coinbase holds a minority share in Circle, and the two companies share revenue from USDC's reserve interest income. Ripple recently debuted its own stablecoin, RLUSD. An offer by Ripple to buy Circle was rejected, Bloomberg reported last month. Circle said in an emailed statement that it "is not for sale," and remains committed to going public, Fortune said. The company aborted a previous attempt at going public via a special purpose acquisition company (SPAC) merger in 2021.
Yahoo
21-05-2025
- Business
- Yahoo
Circle Has Explored Potential $5B Sale to Coinbase or Ripple Instead of IPO: Report
Stablecoin issuer Circle, which filed for an initial public offering (IPO) last month, has explored the alternative of a sale to crypto exchange Coinbase (COIN) or payments company Ripple, according to a Monday report by Fortune. The New York-based issuer of USDC, the second-largest stablecoin, took part in informal talks over a potential sale from which it was seeking at least $5 billion, Fortune reported, citing people who asked not to be identified. This figure would be line with the company's valuation by investment banks JPMorgan and Citi, which Circle had hired to help with the IPO. Coinbase holds a minority share in Circle, and the two companies share revenue from USDC's reserve interest income. Ripple recently debuted its own stablecoin, RLUSD. An offer by Ripple to buy Circle was rejected, Bloomberg reported last month. Circle said in an emailed statement that it "is not for sale," and remains committed to going public, Fortune said. The company aborted a previous attempt at going public via a special purpose acquisition company (SPAC) merger in 2021.
Yahoo
20-05-2025
- Business
- Yahoo
Why Coinbase Global, Inc. (COIN) Skyrocketed on Friday
We recently published a list of . In this article, we are going to take a look at where Coinbase Global, Inc. (NASDAQ:COIN) stands against other Friday's top performers. The stock market finished the trading week in the green territory as investors looked past the series of mixed corporate earnings performance and inflation worries, amid the easing trade tensions between the US and China. The Dow Jones climbed by 0.78 percent, while the S&P 500 and the tech-heavy Nasdaq grew by 0.70 percent and 0.52 percent, respectively. Beyond major indices, 10 companies—predominantly Bitcoin miners and quantum computing firms—registered a strong finish, thanks to fresh corporate developments boosting investor appetite. In this article, we name Friday's 10 top performers and detail the reasons behind their gains. To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million in trading volume. A shot of someone securely accepting crypto assets as payment, showcasing the company's payment solutions. Coinbase Global rebounded on Friday, jumping 9.01 percent to close at $266.46 apiece, as investor funds flew back to its stock ahead of its official 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. Friday's trading also showed that investors have priced in the company's recent customer data hacking incident, which demanded that Coinbase Global, Inc. (NASDAQ:COIN) pay some $20 million in ransom, and could cost the company between $180 million and $400 million to fix issues and reimburse customers. 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. Overall, COIN ranks 9th on our list of Friday's top performers. 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 . READ NEXT: and . Disclosure: None. This article is originally published at . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
