The post Cathie Wood’s ARK Invest Sells $49.2M Coinbase: What’s Happening? appeared first on Coinpedia Fintech News
ARK Invest, led by Cathie Wood, sold a lot of Coinbase shares—335,860 to be exact. This move, totaling $49.2 million, raised some eyebrows as it’s the biggest sale since July. As per the latest reports, the sale was due to ARK’s rule of capping individual stock exposure at 10%, as Coinbase’s surge pushed its share value beyond this limit.
This move sparked mixed reactions, with some seeing it as a smart strategy to manage risk and others questioning its timing and impact on ARK’s investment performance in the volatile crypto market.
It seems the crypto market is engaged in a strategic chess game, and the moves are anything but ordinary, especially under the guiding hand of Cathie Wood and ARK Invest.
Here’s a quick detail for you.
Capitalizing on Coinbase’s Rise!
Interestingly, Coinbase wrapped up Friday’s trading at $146.62, marking a 7.7% increa
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