TSLA - Cathie Wood-Led Ark Invest Sells $24M Of Coinbase Shares Amid Bitcoin Surge To New Highs; Continues Nvidia Sell-Off — Acquires Tesla Palantir Stock | Benzinga
On Monday, Cathie Wood‘s Ark Invest made headlines with its strategic trades, notably selling over $24 million worth of Coinbase Global Inc (NASDAQ:COIN) shares as Bitcoin (CRYPTO: BTC) soared to an all-time high of $69,170.63. This move comes amidst a flurry of activity in the cryptocurrency market, highlighting Ark Invest’s tactical adjustments in response to the evolving financial landscape.
The Coinbase Trade
The firm sold 110,896 Coinbase shares through ARK Innovation ETF (NYSE:ARKK), ARK Next Generation Internet ETF (NYSE:ARKW) and Ark Fintech Innovation ETF (NYSE:ARKF). The transaction was valued at $24.03 million. On Tuesday, Coinbase shares closed 5.4% lower at $216.77.
Earlier on Monday, Ark Invest’s decision to offload nearly $31 million worth of Coinbase shares, as reported by Benzinga, coincided with Bitcoin rallying. Recently, Coinbase has faced challenges, experiencing significant outages amid increased traffic as Bitcoin surpassed $64,000, with users reporting incorrect balances.
The NVIDIA Trade
Ark Invest has continued its NVIDIA Corp (NASDAQ:NVDA), selling spree, on Tuesday it sold 5,835 shares through ARK Autonomous Technology & Robotics ...