Cathie Wood’s Ark Invest made significant adjustments to its portfolio this week, notably divesting shares of major crypto exchanges. The firm offloaded a massive stake in Coinbase Global Inc (NASDAQ: COIN) and Robinhood Markets Inc (NASDAQ: HOOD) this week. The move comes amid a rally in the digital asset market and its impact on the crypto firm stocks.
Cathie Wood’s Ark Invest Offloads $43.4 Million Worth Of Coinbase Shares
On Monday, February 26, Ark Invest initiated its selling spree of Coinbase shares, offloading 35,509 shares valued at $6.9 million. Despite the surge in Coinbase stock that day, closing at $193.94, gaining 16.85%, Ark Invest remained steadfast in its decision.
Furthermore, on Tuesday, February 27, the firm sold 46,531 Coinbase shares valued at $9.3 million, with the stock closing 2.7% higher at $199.22. The selling continued on Wednesday, February…
