Coinbase: Cathie Wood Joins Other Execs in Selling Shares, Why?
Cathie Wood ’s ARK Invest has been making notable strides lately in the crypto realm. The latest one, however, is certainly advantageous for her but not the prominent crypto exchange, Coinbase [COIN]. Time and again, Wood’s has purchased a substantial amount of shares of the exchange. However, according to the latest development, ARK has offloaded a whopping $12 million worth of COIN shares. According to reports, ARK sold a total of 135,152 stakes in Coinbase. While $12 million is a substantial amount, the number of stakes disposed only accounted for 0.14% of the fund’s total assets. This sale happened at a peculiar moment considering the recent notable increase in the stock price of Coinbase. Just a few days ago, the price reached a peak of $90.9. Also Read: Coinbase Shares are Up by Over 50% Amid SEC Lawsuit Source – COIN Chart on TradingView Coinbase shares have surged by over 60% in the last month, with a year-to-date gain of more than 140%. ...