Coinbase, MicroStrategy and Other Crypto Stocks Fly. Why Gains Could Continue.

Shares in companies exposed to the cryptocurrency space tore higher on Monday. Many of these stocks are beaten down and widely bet against by traders, which means that gains could be accelerated through a “short squeeze.”

Crypto broker


Coinbase Global


‘s (ticker: COIN) stock rallied 5% in U.S. premarket trading.


MicroStrategy


(MSTR), a software company with significant holdings of


Bitcoin


in its corporate treasury, surged almost 7% in the premarket, while crypto miners


Riot Platforms


(RIOT) and


Marathon Digital


(MARA) both gained 4%. Futures tracking the


S&P 500


index rose 0.3%, by comparison.