Cathie Wood’s Ark Invest Sells 174,611 Coinbase Shares Amid 85% Wipeout in the Crypto Exchange’s Stock Price

Cathie Wood’s Ark Invest Sells 174,611 Coinbase Shares Amid 85% Wipeout in the Crypto Exchange’s Stock Price


Veteran hedge fund manager Cathie Wood’s ARK Invest is cutting its stake in the shares of Coinbase crypto exchange.

An update on a website tracking the holdings of ARKW, ARK Invest’s innovation-focused fund, reveals that the investment firm offloaded approximately 174,611 shares of Coinbase on July 26th.

ARKW is an exchange-traded fund (ETF) focused on companies in fields such as blockchain technology, big data, Internet of Things, fintech, and cloud computing.

Trending: DEVELOPING: FBI RAIDS Mar-A-Lago: “Under Seige, Occupied;” Cheers Breaking Out in Biden White House

ARK Invest now holds 1.3 million shares of Coinbase, down from the 1.5 million shares that it held in the crypto exchange in June when the last purchase was made.

The sale comes amid a severe plunge in the stock price of Coinbase (NASDAQ: COIN). The stock price of the US crypto exchange hit

Continue reading


 

Join the conversation!

Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!

Thanks for sharing!
Send this to a friend