The Next s&p 500 inclusion - Coinbase
No one is talking about this so let’s discuss. Coin had a good run up day before earning reports. They had a good earning but stock tanked.
The next S&P 500 inclusion will happen on 21st March. We have seen what happens when they rebalance and add stocks like palantir..
I’m convinced coinbase will be the next candidate to be included next month. Posting here for a sanity check and blind spot. Tell me why it should not be included.
Criteria for Inclusion in the S&P 500
A company must meet the following criteria to be selected by the Index Committee and be included in the S&P 500 index:
The company should be from the U.S. (fulfilled)
Its market cap must be at least $20.5 billion. Coin have more than 50 billion market cap (fulfilled)
Its shares must be highly liquid. Coin have 10-20 million shares in average trading volume
At least 10% of its outstanding shares must be available for public trading. Coinbase public float is around 20-30% (fulfilled)
It must report positive earnings in the most recent quarter.
The sum of its earnings in the previous four quarters must be positive. (Fulfilled)
Reposting with disclosure as previous post was taken down. ( I have 400 shares in coinbase with average cost basis of around $232) which is almost 40% of my portfolio.
Let’s discuss!