Coinbase jumps 22%, heads for biggest gain since post-election pop on S&P 500 inclusion

Core Viewpoint - Coinbase Global Inc. has seen a significant increase in its stock price following its inclusion in the S&P 500, marking a notable rally for the company [1][2]. Group 1: Stock Performance - Coinbase shares surged over 20% on a recent Tuesday, marking the sharpest rally since the day after President Trump's election victory [1]. - The stock price increased by 31% on November 6, 2023, due to optimism regarding potential crypto-friendly policies from the incoming administration [3]. Group 2: S&P 500 Inclusion - S&P Global announced that Coinbase is replacing Discover Financial Services in the S&P 500, effective before trading on the following Monday [2]. - Stocks added to the S&P 500 typically experience a rise in value as funds tracking the benchmark include them in their portfolios [2]. Group 3: Political Contributions - Coinbase and CEO Brian Armstrong have been significant financial supporters in the 2024 campaign, contributing over $75 million to a PAC named Fairshake and its affiliates [4]. - Armstrong personally donated more than $1.3 million to various candidates [4].