Cathie Wood’s Ark Invest, a major investment management firm, offloaded over $54 million worth of Coinbase (COIN) and Robinhood (HOOD) stocks lately. The dump comes amid a rally for the COIN and HOOD stocks as they attained a fresh 52-week high recently.
Cathie Wood-led Ark Invest Divests Coinbase & Robinhood Stocks
Cathie Wood’s Ark Invest divested around $52.27 million of Coinbase stock in the last trading session. On Thursday, March 21, Ark Invest dumped 133,533 Coinbase shares from its ARK Innovation ETF (ARKK). The selloff was worth $34.98 million.
In addition, the Cathie Wood-led organization dumped 59,125 shares of Coinbase from ARK Next Generation Internet ETF (ARKW) worth $15.49 million. Moreover, Ark Fintech Innovation ETF (ARKF) initiated a Coinbase stock selloff of 6,778 shares worth $1.77 million.
Furthermore, Cathie Wood’s firm divested 96,003 Robinhood shares worth $1.77 million from ARKW on Thursday. Hence, the total divestment amounts to $54.04 million. Whils
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