ARK Invest Unloads $31.5M in Robinhood (HOOD) Shares, Eyes Roblox (RBLX)
Recent changes to ARK’s investment portfolio demonstrate the company’s dedication to spotting and seizing new market trends.
Recent changes to ARK’s investment portfolio demonstrate the company’s dedication to spotting and seizing new market trends.
ARK’s recent offloading of Coinbase shares stands out as one of its significant divestments in 2024. Prior to Thursday’s sale, ARK sold off 270,365 shares of Coinbase on March 11.
In contrast to Coinbase’s expansionary endeavors, Cathie Wood’s Ark Invest has been engaging in a selling spree, offloading another $27 million worth of COIN shares.
In addition to selling Coinbase shares, Ark Invest also divested 686,864 Robinhood shares from its Next Generation Internet (ARKW) and Fintech Innovation (ARKF) funds.
Yesterday, when Coinbase faced outage, the stock price level dropped from $205 to $195, causing a downfall of approximately 5%.
Coinbase stock is enjoying positive activity following the company’s report that it beat expectations set by analysts for last quarter.
Multiple crypto stocks jumped in premarket following Bitcoin’s continuous rise past the $51,000 mark as ETFs receive large inflows.
Recent data reveals that the new spot ETF issuers have accumulated more than 68,000 Bitcoin in their first week of operation.
With Vanguard not allowing users to invest in the spot Bitcoin ETFs now available in the United States, customers are threatening to leave the company, citing a misalignment with the investment philosophy.
Circle Internet Financial confidentially filed for an initial public offering (IPO) in the US.