Coinbase Global (COIN) will replace Discover Financial Services (DFS) in the S&P 500, effective before market open May 19, S&P Global (SPGI) division S&P Dow Jones Indices said late Monday.
Discover Financial is set to be acquired by Capital One Financial (COF) in a deal expected to be completed soon, S&P Dow Jones said.
Coinbase shares were up 9.8% in recent premarket activity Tuesday.
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