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<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/ark-invest-cashes-out-on-coinbase-amid-soaring-stock-prices" rel="noopener noreferrer nofollow">Ark Invest Cashes Out on Coinbase Amid Soaring Stock Prices</a><br></p>
<p style="text-align: justify">Ark Invest, the investment company spearheaded by notable <a href="https://en.bitcoinhaber.net/significant-sell-off-hits-crypto-markets-global-value-drops-5" rel="noopener noreferrer nofollow">Bitcoin</a> advocate Cathie Wood, has pared down its stake in cryptocurrency exchange Coinbase. The move comes shortly after Coinbase disclosed lucrative quarterly earnings that exceeded analysts’ predictions, leading to a significant rise in its stock value. The firm sold shares amounting to tens of millions, taking advantage of the heightened stock price following the positive financial report. Coinbase, meanwhile, saw its stock surge to two-year highs in the wake of market optimism driven by robust crypto valuations and trading volumes.</p>
<h2 id="aggressive-sell-off-by-ark-invest">Aggressive Sell-Off by Ark Invest</h2>
<p style="text-align: justify">On the heels of Coinbase’s profitable earnings report, Ark Invest divested itself of over 160,000 shares in the digital currency exchange, estimated to be worth around $31 million. The sale was distributed across multiple Ark ETFs, with the bulk being from the ARK Innovation ETF, while the ARK Fintech Innovation ETF contributed to a lesser extent. Despite these sales, Ark’s Next Generation Internet ETF continues to maintain its current holdings in Coinbase.</p>
<p style="text-align: justify">In a prior move on February 14, Ark’s funds had already sold off more than 214,000 shares of Coinbase, capitalizing on a share price boost triggered by the earnings announcement. The company’s stock concluded the trading day at an increase, only to soar further in after-hours trading, reaching a peak that the stock had not seen for two years.</p>
<h2 id="impressive-financial-outcomes-for-coinbase">Impressive Financial Outcomes for Coinbase</h2>
<p style="text-align: justify">Coinbase’s financial report disclosed an earnings per share figure that quintupled the expectations of market analysts. The exchange’s revenue also surpassed projections, largely fueled by a doubling of trading volume in the year’s final quarter. This growth reflects a broader trend of revitalized enthusiasm in the crypto market, particularly around Bitcoin’s performance and the prospect of new financial products such as a spot Bitcoin ETF.</p>
<p style="text-align: justify">While Ark Invest has downsized its Coinbase position, other financial entities like JPMorgan have adjusted their outlook on the company more favorably. Elsewhere, Ark Invest has also restructured its portfolio in other sectors, trading out shares of major companies like Alphabet and NVIDIA for other tech-stock opportunities.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/ark-invest-cashes-out-on-coinbase-amid-soaring-stock-prices" rel="noopener noreferrer nofollow">Ark Invest Cashes Out on Coinbase Amid Soaring Stock Prices</a></h5>

Ark Invest Cashes Out on Coinbase Amid Soaring Stock Prices

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