Coinbase (COIN) shares rallied more than 20% on Tuesday following news that the crypto trading platform will replace Discover Financial Services (DFS) to become a part of the S&P 500 Index ($SPX) on May 19.
The announcement arrives only days after COIN reported a 24% year-over-year increase in its Q1 revenue to $2.03 billion, which nonetheless came in shy of $2.12 billion that experts had forecast.
