Cathie Wood's Ark Invest Continues To Shed Coinbase, Nvidia Shares

On Monday, Cathie Wood-led Ark Invest made significant trades involving Coinbase Global Inc. COIN and NVIDIA Corp. NVDA.

The COIN Trade

Ark Invest decided to offload 3,689 shares of Coinbase from its ARK Next Generation Internet ETF ARKW fund. The value of the sold COIN shares, based on the closing price of $223.41 on Monday, amounts to approximately $824,000.

Last week, despite a recent rise in Bitcoin BTC/USD prices, Ark Invest sold a significant amount of Coinbase shares, with back-to-back trades on certain days.

The NVDA Trade

Ark Invest also reduced its stake in NVIDIA Corp. from its ARK Genomic Revolution ETF ARKG fund by 157 units. The value of the sold Nvidia shares, based on the closing price of $860.01 on Monday, is approximately $135,000. This move comes despite a recent bullish prediction by a chart analyst, who suggested that NVIDIA is poised for another upward move.

Other Key Trades:

  • Ark Invest bought shares of Teladoc Health Inc TDOC across its ARKF, ARKG, and ARKK funds. Shares of UiPath Inc PATH were sold from the ARKG fund.
  • The ARKK fund saw a purchase of shares from Roku Inc ROKU and a sale of Draftkings Inc DKNG shares.
  • ARKW fund sold shares of Twilio Inc TWLO.

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Posted In: EquitiesNewsMarketsETFsAIARK InvestArk Invest Managementartificial IntegllienceBitcoinCathie WoodNVIDIANvidia Artificial IntelligenceShivdeep Dhaliwal
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