12/20

Why is CONY Up Today After Analyst Upgrade

The Yieldmax Coin Option Income Strategy ETF (CONY) closed up 1.85% at $14.35 on December 20, reflecting a positive shift in the underlying asset, Coinbase Global (COIN), which rose 1.33% to $277.57. This uptick in Coinbase's stock price was primarily driven by an upward revision of its price target by Keefe, Bruyette & Woods to $275.00, signaling increased analyst optimism. The market's response was further bolstered by heightened options activity, indicating a bullish sentiment among investors. Additionally, discussions on platforms like Reddit highlighted mixed reactions to Cathie Wood's ARK Invest selling Coinbase shares amid Bitcoin price fluctuations, with some users expressing skepticism about the so-called Bitcoin plunge.