Cathie Wood's Ark Invest Continues To Shed Coinbase, Nvidia Shares
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest has sold shares of Coinbase Global Inc. (COIN) and NVIDIA Corp. (NVDA), despite recent positive market movements for both. The sales were made from the ARK Next Generation Internet ETF (ARKW) and the ARK Genomic Revolution ETF (ARKG), respectively. Additionally, Ark Invest made other notable trades, including buying shares of Teladoc Health Inc (TDOC), selling shares of UiPath Inc (PATH), Roku Inc (ROKU), Draftkings Inc (DKNG), and Twilio Inc (TWLO).
April 16, 2024 | 3:44 am
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NEGATIVE IMPACT
Ark Invest sold 3,689 shares of Coinbase, valued at approx $824,000, from its ARKW ETF.
Selling shares of COIN, especially after a rise in Bitcoin prices, could indicate a bearish outlook on Coinbase by Ark Invest, potentially influencing investor sentiment negatively in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Ark Invest reduced its NVIDIA stake by 157 shares from the ARKG ETF, valued at approx $135,000.
The sale of NVDA shares, despite bullish predictions, could suggest a cautious or bearish stance by Ark Invest on NVIDIA, potentially affecting its stock price negatively in the near term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90