ARK Invest’s Cathie Wood sells $13,5 million worth of Coinbase stock for the first time in eight months
The deal ended a months-long series of purchases of the exchange’s securities
22.03.2023 - 14:00
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Cathie Wood's ARK Fintech Innovation ETF sold $13.5 million worth of Coinbase, the first time it has sold off a large chunk of the company's stock since July.
Ark sold 160,887 shares from its Ark Fintech Innovation ETF. This ends a months-long buying spree that that ramped up in November 2022. Earlier this month, Ark added almost $30 million in Coinbase shares, The Block previously reported. The fund is up 5% today and 33% year-to-date after dropping around 65% in 2022.
Coinbase shares were up 11% today, closing at $83.99, and almost 150% year-to-date.
This material is taken from the website https://www.theblock.co.
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