Why Coinbase Global Stock Beat the Market Today

Generally speaking, as the cryptocurrency market goes, so goes the stock price of Coinbase Global (NASDAQ: COIN). For the most part, Thursday was a good day for cryptos, so Coinbase shares got a natural lift. On top of that, a positive review of one the company's future business lines from an equity analyst gave the trading-platform operator an additional shot of bullishness.

This morning, Needham & Company prognosticator John Todaro gave kudos to Coinbase's efforts in the non-fungible token (NFT) sphere -- or at least, its path toward becoming a meaningful platform for these extremely trendy blockchain-based investments. The company has been developing a virtual marketplace for NFTs and has intimated that this will launch in the very near future, although specifics have not yet been provided.

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Source Fool.com