Ark Invest Offloads $15 Billion Worth Coinbase Shares Pulling Down COIN’s Price

Cathir Wood’s Ark Invest sold $15 billion worth of 70,600 Coinbase shares which has sparked speculations over its impact. Cathie Wood clarified it as not a case of dumping, but active portfolio management and emphasized that Coinbase remains a top position in Ark Invest’s holdings indicating confidence in the company’s long-term prospects. Woods also mentioned plans to reinvest profits into other promising stocks to emphasize a dynamic investment approach to maximize returns. COIN stock fell by 0.83% in today’s pre-market session and traded at $212.56. It is currently trading at $214.34