Closing Bell: Coinbase Surges, Rivian Rises, Nvidia Slips

Today's biggest winners and losers in the stock market.

On this episode of Stock Movers:

Listen for comprehensive cross-platform coverage of the US market close as heard on Bloomberg Television, Bloomberg Radio, and YouTube with Katie Greifeld, Bailey Lipschultz, Carol Massar and Tim Stenovec.

- Coinbase (COIN) ripped almost 20% higher on more than double-average trading volume, just a day after posting weak results, a sign that investors had already braced for worse. The company posted softer trading volumes and pressure on transaction revenue, underscoring its dependence on digital-asset swings. But with the stock sliding for weeks into earnings, expectations were low and positioning defensive — leaving room for a sharp reversal. Bitcoin rallied for the first time in five trading sessions, rising as much as 5.5% to $69,411. Coinbase often trades in tandem with the original digital currency, which accounts for about 60% for the entire value of the crypto market.

- Rivian (RIVN) reported better-than-expected fourth-quarter results and its first-ever annual gross profit, a key milestone after years of consistent losses. The signs of progress come as the company prepares to begin selling its R2 midsize SUV, a lower-priced EV that Rivian hopes will appeal to a broader swath of car buyers. Share rose as much as 28% in New York Friday. If that holds, it would nearly erase the year-to-date loss of 29% through Thursday’s close.

- Nvidia (NVDA) is down more than 1% since the beginning of the fourth quarter and has been largely range bound despite hitting a record high in late October. It’s also lagging the S&P 500 Index to start 2026, a slowdown from Nvidia’s nearly 40% leap in 2025 following two consecutive years of triple-digit percentage gains. Nvidia shares sank as much as 2.6% Friday. Even ballooning capital spending from Meta Platforms Inc., Alphabet Inc., Microsoft Corp. and Amazon.com Inc. — estimated to exceed $600 billion in 2026 — hasn’t been enough to meaningfully boost the stock amid increasing anxieties about returns on those investments. The cyclical nature of the chip industry is baked into Nvidia’s valuation, which has compressed as revenue growth is expected to slow in the coming years. Sales are projected to expand 58% in the current calendar year and 28% in 2027, according to data compiled by Bloomberg.

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