Ark Invest, led by Cathie Wood, made significant divestments this week, unloading approximately $122 million worth of shares in Coinbase (COIN) and Robinhood (HOOD). The move comes amid a surge in their stock prices, hitting fresh 52-week highs. However, on Friday, when the maximum dump was recorded for Ark Invest, both COIN and HOOD stocks slumped significantly.
Cathie Wood’s Ark Invest Dumps Coinbase Stock
On Friday, March 22, the Cathie Wood-led organization offloaded about $55.60 million worth of COIN stock. The firm’s ARK Innovation ETF (ARKK) witnessed a massive dump of 151,271 Coinbase shares, equivalent to $38.65 million. Furthermore, ARK Next Generation Internet ETF (ARKW) registered a divestment of 60,332 COIN shares worth $15.41 million.
In addition, the Cathie Wood-led firm’s Ark Fintech Innovation ETF (ARKF) saw a sell-off of 6,007 Coinbase shares. This dump was worth $1.53 million. Moreover, Cathie Wood’s Ark Invest shed around $52.27 million worth of Coinbase sto
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