ARK Invest Sells more Coinbase Shares
ARK Invest, led by Cathie Wood, sold 37,377 Coinbase shares for $4.7 million, part of a $15 million sale. The sale was part of ARK’s recent sales on November 27 and 29, totaling around $15 million in Coinbase stock sales from its Next Generation Internet ETF (ARKW).
Coinbase’s shares on Nasdaq reached their highest since April 2022, reaching $119.77 on Monday. Despite a small drop on Thursday, the shares remain at a 19-month high. ARK Invest’s strategy involves buying crypto-related shares at low prices and selling them at high prices.
(With inputs from Shikha Singh)
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