Cathie Wood's Ark Invest triggers frenzy: Coinbase, Nvidia, Robinhood in selling spree! 🚀

Cathie Wood’s Ark Invest Continues Selling Coinbase Shares

Cathie Wood’s investment management firm, Ark Invest, has been actively selling shares of Coinbase, despite the company’s better-than-expected earnings. Here are the details of the recent Coinbase shares selloff:

On February 22, ARK Innovation ETF (ARKK) sold 2,828 Coinbase shares.
After the earnings report, Ark Invest funds offloaded $31 million worth of COIN shares as the price reached a 2-year high of $190.
On February 21, ARK Innovation ETF (ARKK) sold 31,747 Coinbase shares, and Ark Fintech Innovation ETF (ARKF) offloaded 8,936 COIN shares.
On February 20, ARK Innovation ETF (ARKK) sold 19,732 Coinbase shares, Ark Fintech Innovation ETF (ARKF) sold 4,970 COIN stocks, and ARK Next Generation Internet ETF (ARKW) offloaded 4,029 Coinbase shares.

The price of Coinbase (COIN) has fallen by 12.26% this week. On Friday, it closed 2.88% lower at $165.98 and experienced an additional 0.59% fall after hours.

Cathie Wood Also Dumps Nvidia and Robinhood Shares

In addition to selling Coinbase shares, Cathie Wood’s Ark funds have also been divesting from Nvidia and Robinhood. Despite a bullish outlook on artificial intelligence (AI), here are the details of the recent selloff:

Last week, ARK Autonomous Technology & Robotics ETF (ARKQ) decided to offload 12,146 Google and 2,707 Nvidia holdings. ARKW also offloaded 1,969 NVIDIA shares.
On February 22, ARK Next Generation Internet ETF (ARKW) offloaded 5,067 Nvidia shares worth $4 million.

The price of Nvidia (NVDA) has soared by 6.41% this week, closing at $788.17 on Friday.

Moreover, Ark Invest sold a significant number of Robinhood shares:

ARKW sold 190,413 Robinhood shares.
ARKF offloaded 104,669 shares.
Ark Invest also offloaded an additional 37,312 shares on February 22.

The price of Robinhood (HOOD) jumped by 8.46% this week. The stock closed 3.65% higher at $14.48 on Friday, with an additional 1.17% surge in after-market hours.

Hot Take: Ark Invest’s Selling Spree Despite Strong Performances

Cathie Wood’s Ark Invest continues to sell off shares of Coinbase, Nvidia, and Robinhood despite the strong performances of these companies. This selling spree raises questions about Ark Invest’s investment strategy and its outlook for these stocks.

If you are a crypto enthusiast following Cathie Wood’s investment moves, you might be wondering:

Why is Ark Invest selling Coinbase shares despite the company’s better-than-expected earnings and the recent surge in its stock price?
What is the reason behind Ark Invest’s decision to divest from Nvidia, especially considering its bullish outlook on AI?
Why is Ark Invest offloading Robinhood shares when the stock has experienced significant growth?

As an investor, it is important to analyze the rationale behind these sell-offs and assess whether they align with your investment goals and risk tolerance. While Cathie Wood’s Ark Invest has gained recognition for its successful investments in disruptive technologies, it is crucial to conduct your own research and make informed decisions.

Remember, the crypto market can be volatile, and it is essential to stay updated with the latest news and developments. Keep an eye on the performances of Coinbase, Nvidia, and Robinhood, as well as any further actions taken by Ark Invest.

Disclaimer: This article is for informational purposes only and should not be considered as financial or investment advice. Always do your own research before making any investment decisions.