Crypto NewsExchangeInvestment Management Firm ARK Invest Continues to Sell Shares of the Rising...

Investment Management Firm ARK Invest Continues to Sell Shares of the Rising Crypto Exchange!

Cathie Wood's ARK Invest, a leading investment management firm, sold shares of this crypto exchange for the third time this week.

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Cathie Wood's ARK Invest, a leading investment management firm, conducted its third straight sale of Coinbase (COIN) shares this week, offloading an additional 37,377 shares worth approximately $4.7 million at Thursday's closing price.

ARK Invest Continues Selling by Disposing of $4.7 Million Coinbase (COIN) Shares

This latest sale follows previous divestitures on November 27 and November 29, adding to the total sale of nearly $15 million worth of COIN stock this week alone.

The sales were made through ARK's Next Generation Internet ETF (ARKW).

Coinbase's Nasdaq-listed shares rose to their highest levels since April 2022 at the beginning of the week, reaching $119.77 on Monday.

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Despite closing down 2.43% at $124.72 on Thursday, COIN shares remain at 19-month highs.

ARK Invest's strategy generally involves accumulating shares of crypto-related assets during downtrends and strategically disposing of them when the market rebounds.

This approach allows the company to benefit from market movements and make profits.

*This is not investment advice.



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