Here's Why Coinbase And Nio Are Moving

Coinbase Global Inc COIN shares are trading higher by 5% Friday afternoon after Loop Capital initiated coverage on the stock with a Buy rating and a price target of $394 per share.

BTIG initiated coverage on the stock Thursday with a Buy rating and a price target of $500 per share.

Coinbase is a provider of end-to-end financial infrastructure and technology for the crypto-economy. It generates substantially all its net revenue from transaction fees from trades that occur on its platform. Geographically, it derives a vast majority of its revenues from the US followed by the rest of the world.

Nio Inc - ADR NIO which has been sounding out plans to launch in Europe, is likely to make an official announcement concerning its European expansion plan on May 7 or 8, an auto-focused media account reported Friday. The stock is trading higher by 1.5% following word of the upcoming announcement… Read More

Nio operates in China's premium electric vehicle market. The company designs and jointly manufactures, and sells smart and connected premium electric vehicles, driving innovations in next-generation technologies in connectivity, autonomous driving, and artificial intelligence.