Cathie Wood's Ark Invest Sells Coinbase Shares As Bitcoin Drops Below Key $62K Level
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest sold 3,341 shares of Coinbase amidst a volatile cryptocurrency market, with Bitcoin dropping below $62,000. Other significant trades included selling shares of Teladoc Health and Verve Therapeutics, and buying shares of Absci Corp and Roku.
June 25, 2024 | 3:17 am
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POSITIVE IMPACT
Ark Invest bought 43,936 shares of Absci Corp for the ARKG ETF.
The purchase of Absci Corp shares by Ark Invest suggests a positive outlook, potentially leading to a short-term increase in ABSI's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Ark Invest bought 32,989 shares of Roku for the ARKK ETF.
The purchase of Roku shares by Ark Invest suggests a positive outlook, potentially leading to a short-term increase in ROKU's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Ark Invest sold 3,341 shares of Coinbase as Bitcoin's price fell below $62,000, impacting Coinbase's stock price.
The sale of Coinbase shares by Ark Invest, coupled with the drop in Bitcoin's price, is likely to negatively impact Coinbase's stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Ark Invest sold 54,256 shares of Teladoc Health from the ARKG ETF and 61,606 shares from the ARKK ETF.
The significant sale of Teladoc Health shares by Ark Invest may indicate a bearish outlook, potentially leading to a short-term decline in TDOC's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 70
NEGATIVE IMPACT
Ark Invest sold 10,570 shares of Verve Therapeutics from the ARKG ETF and 50,971 shares from the ARKK ETF.
The sale of Verve Therapeutics shares by Ark Invest may indicate a bearish outlook, potentially leading to a short-term decline in VERV's stock price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60