Cathie Wood’s Positive View on Coinbase Despite Ark Invest’s Sales
Cathie Wood expressed her optimistic outlook on crypto exchange Coinbase following a recent court ruling favoring Ripple Labs in their dispute with the Securities and Exchange Commission (SEC). This comes despite Ark Invest’s selling of Coinbase stock.
Main Points:
- Cathie Wood has a positive view on Coinbase after the Ripple court ruling
- Ark Invest sold $50 million worth of Coinbase stock
- Wood attributes the selling to profit-taking and reallocating capital
- On Monday, Coinbase shares remained mostly flat, rising only 0.2%
- Coinbase stock has rallied 189.3% year-to-date
Wood believes that the court ruling in favor of Ripple is a positive development for cryptocurrency exchanges in general. Despite Ark Invest’s sales, she remains optimistic about Coinbase’s future. The flat trading of Coinbase shares on Monday suggests a level of stability in the market. Overall, the ongoing growth of Coinbase’s stock reflects the increasing interest and demand for cryptocurrencies.
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