The famed money manager now holds $837 million of the crypto exchange's stock across three of its ETFs. Ark Invest has a 7.03% stake in the Nasdaq-traded company.
Shares of Coinbase dipped 2% Wednesday but earlier traded at a seven-month high of $83.49. The company's stock is on a tear, up 30% in the past five trading sessions. , with bitcoin and ethereum up 16% and 9% in the past week, respectively. When crypto bets are doing well, typically company shares that service the nascent space follow suit.
She added:"We think [they] are going to face some quite severe challenges during the next ... six to nine months."
Irony of this tweet being tweeted by 'Business Insider'. The whole world is bent as f*ck.
It’s probably just a coincidence that Cathie Wood sold 160,000 shares of Coinbase a day before they announced they received a Wells notice detailing securities violations. 🤔
It’s coincidence. It’s not insider info
Perfect timing with wells notice shortly following after that sell.