Cathie Wood’s Ark Invest Continues to Sell Coinbase Shares
Cathie Wood’s Ark Invest has sold an additional 26,743 shares of Coinbase Global Inc., worth $4.1 million, following a previous sale of $25.3 million in shares. This selling spree by Ark Invest’s ARK Innovation ETF has amounted to over $200 million in Coinbase shares being offloaded in recent weeks.
ARK Innovation ETF Buys Recursion Pharmaceuticals Shares
On the same day as the Coinbase share sale, Ark Invest’s ARK Innovation ETF purchased 132,955 shares of Recursion Pharmaceuticals for approximately $1.48 million.
Coinbase Stock Performance
Despite the sell-off, Coinbase stock closed with a 2.21% increase at $155.6 on Thursday. Over the past year, it has experienced a remarkable rise of more than 360%.
Coinbase Implements Risk-Acknowledgment Form for UK Users
In line with guidelines from the UK’s financial regulator, Coinbase has joined other crypto exchanges in requiring its UK users to complete a risk-acknowledgment form.
Hot Take: Ark Invest Continues to Reduce Exposure to Coinbase Shares
Cathie Wood’s Ark Invest continues to decrease its holdings in Coinbase shares, selling millions of dollars’ worth of stock. This move suggests that Ark Invest may be reassessing its position on the cryptocurrency exchange. Despite the sell-off, Coinbase stock remains strong and has shown significant growth over the past year. It will be interesting to see how this ongoing divestment by Ark Invest impacts both companies in the long run.
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