Why Coinbase Stock Kept Going Up Today

Shares of cryptocurrency exchange Coinbase Global (NASDAQ: COIN) gained ground on Tuesday following new partnership announcements with Facebook (NASDAQ: FB) and the NBA. For Facebook, Coinbase will be offering support for its Novi digital-payments platform, which runs on cryptocurrency Pax Dollar.

According to CoinDesk, Coinbase has also secured a partnership with the NBA. Note that the NBA includes the WNBA and other basketball brands. Details about the partnership are slim. All we really know is that it's "multi-year" and that Coinbase will be creating "interactive experiences" tailored for NBA fans. Therefore, with not much to go on, this likely isn't a big driver for Coinbase stock today.

Image source: Coinbase Global.

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Source Fool.com