Ark Invest Sells Coinbase Shares and Buys Robinhood Shares

Ark Invest Sells Coinbase Shares and Buys Robinhood Shares

Ark Invest, led by Cathie Wood, has recently sold 10,218 Coinbase shares, totaling approximately $1.4 million.

This move comes after the sale of $15 million worth of Coinbase shares last week.

These sales come at a time when the price of Coinbase shares has reached its highest level since April 2022, despite a decrease of over 60% from its all-time high in November 2021.

As of December 5, 2023, a Coinbase share (COIN) is trading around $140.

Ark Invest Buys More Robinhood Shares

At the same time, Ark Invest has increased its investments in Robinhood by adding 14,702 shares (valued at $140,000) to its portfolio.

These purchases add to the $3 million worth of Robinhood shares acquired the previous week.

Robinhood continues to expand internationally, with the recent launch of commission-free stock trading services in the United Kingdom. The American giant also plans to expand its cryptocurrency trading services in the European Union.