Ark Invest sells Coinbase, eyes Meta & Robinhood
On July 14, Ark Invest, led by Cathie Wood, sold a significant number of Coinbase shares totaling around $53 million.
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This divestment occurred as Coinbase’s stock price reached a year-to-date high. ARKK offloaded 263,000 shares, ARKW sold 93,000 shares, and ARKF sold 36,000 shares. This marks the second time within a week that Ark Invest has sold off its Coinbase holdings, following a previous sale of 135,000 shares on July 11.
In a separate move, in June, Cathie Wood’s Ark Invest purchased Meta Platforms shares after the company announced the launch of “Threads,” a social media app that bears similarities to Twitter.
The ARK Innovation ETF (ARKK) acquired 69,793 shares of Meta Platforms, while the ARK Fintech Innovation ETF (ARKF) purchased 111,843 shares of Robinhood. Additionally, the ARK Next Generation Internet ETF (ARKW) increased its holdings with 12,559 Meta Platforms shares and 169,116 Robinhood shares.
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