{"id":111860,"date":"2021-11-18T11:00:00","date_gmt":"2021-11-18T16:00:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/?p=111860"},"modified":"2023-03-14T11:25:49","modified_gmt":"2023-03-14T15:25:49","slug":"cathie-wood-sells-32m-in-coinbase-as-shares-surge-and-loads-up-on-the-dip-in-this-stock","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/stocks\/cathie-wood-sells-32m-in-coinbase-as-shares-surge-and-loads-up-on-the-dip-in-this-stock\/","title":{"rendered":"Cathie Wood Sells $32M In Coinbase As Shares Surge And Loads Up On The Dip In This Stock"},"content":{"rendered":"\n

Cathie Wood<\/strong>-led money managing firm Ark Invest<\/strong> on Wednesday sold more shares in Coinbase Global Inc <\/strong><\/strong>COIN<\/strong><\/a> even as the largest U.S. cryptocurrency exchange’s stock continued to regain ground after reporting dismal third-quarter results earlier this month.<\/p>\n\n\n\n

Ark Invest sold 92,395 shares \u2014 estimated to be worth $32 million \u2014 in Coinbase via the Ark Innovation ETF <\/strong>ARKK<\/strong><\/a>. <\/p>\n\n\n\n

Two other Ark ETFs \u2014 the Ark Next Generation Internet ETF<\/strong> ARKW<\/strong><\/a> and the Ark Fintech Innovation ETF ARKF<\/strong><\/a><\/strong> too own shares in Coinbase<\/a>.<\/p>\n\n\n\n

The three ETFs together held 5.66 million shares \u2014 worth $1.68 billion \u2014 in Coinbase ahead of Thursday\u2019s trades.<\/p>\n\n\n\n

Shares of the cryptocurrency exchange closed 1.29% higher at $346.52 a share on Wednesday. The stock has risen 5.56% so far this year.<\/p>\n\n\n\n

The stock had plummeted 8% earlier this month after Coinbase reported<\/a> dismal third-quarter numbers and said it is focused on long-term growth as it grows the cryptocurrency economy.<\/p>\n\n\n\n

The company said Bitcoin<\/strong> BTC<\/strong> was 19% of trading volume in the third quarter, compared to 24% in the second quarter. Ethereum<\/a> ETH<\/strong><\/strong> was 22% of trading volume in the third quarter, compared to 26% in the second quarter.<\/p>\n\n\n\n

Bitcoin is on the course of recovery after slipping below the psychologically crucial $60,000 mark on Wednesday, trading 1.97% higher at $60,570 at press time. It hit an all-time high of $68,789.63 last week.<\/p>\n\n\n\n

Other major coins, Ethereum and Dogecoin<\/strong> DOGE<\/strong>, are recovering as well and traded 4.2% and 2% higher, respectively, at the time of writing.<\/p>\n\n\n\n

Here are a few of the other key trades for Ark on Wednesday:<\/p>\n\n\n\n

Bought 310,252 shares \u2014 estimated to be worth $76.05 million \u2014 in Roku Inc<\/strong> <\/strong>ROKU<\/strong><\/a> on the day shares of the streaming media player plummeted after a key analyst downgrade. Roku shares closed 11.34% lower at $245.11 a share on Wednesday. The stock is down 22.9% year-to-date.<\/p>\n\n\n\n

Sold 488 shares \u2014 estimated to be worth $23,165 \u2014 in Pinterest Inc<\/strong> PINS<\/strong><\/a>. Shares closed 2.71% lower at $47.47 a share.<\/p>\n\n\n\n

Bought 60,863 shares \u2014 estimated to be worth $2.38 million \u2014 in TuSimple Holdings Inc<\/strong> <\/a>TSP<\/strong><\/a>. Shares of the company closed 3.49% lower at $39.24 a share.<\/p>\n\n\n\n

—<\/p>\n\n\n\n

Originally Posted on November 17, 2021 – Cathie Wood Sells $32M In Coinbase As Shares Surge And Loads Up On The Dip In This Stock<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Ark Invest on Wednesday sold more shares in Coinbase Global Inc
\nCOIN
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