Based

COIN

Million

Apple

Cathie Wood, chief executive of Ark Investment Management sold around 135K Shares of top crypto stocks that she rarely touches. &nbsp;&nbsp;
Whether it is related to stocks, Bitcoin, or innovation, Cathie Wood stands as a big supporter. Based on the latest news, Cathie Wood sold over 135K shares of the top crypto stocks including COIN, PFE, META, and AMGN. According to her, DNA sequencing, energy storage, and robotics hold the potential to emerge as a game changer for the global economy.
<h2 class="wp-block-heading" id="strong-what-s-going-on-in-cathie-wood-s-mind-strong">What’s going on in Cathie Wood’s mind?</h2>
Cathie Wood’s interest and engagement in different fields make her a significant part of the crypto world. Huge returns of 153% in 2020 and clear investment plans have enhanced her reputation.&nbsp;
As per Wood’s philosophy, small-company stocks in blockchain, artificial intelligence, energy storage, robotics, and DNA sequencing can be game changers for the worldwide economy.&nbsp;&nbsp;
On Monday, Wood traded three stocks which was surprising for many.&nbsp;&nbsp;
Ark <a href="https://www.thecoinrepublic.com/2024/02/29/slow-adaptation-distrust-in-banks-are-hindering-fintech-rise/" target="_blank" rel="noopener noreferrer nofollow">Fintech</a> Innovation ETF (ARKF) bought around 12,498 shares of Meta Platforms (META) which is valued at $6.2 Million. Additionally, the stock price surged 167% in the past 12 months and was valued at around $6.2 Million on Monday.&nbsp;
10,981 shares of biotechnology stalwart Amgen (AMGN) stock were purchased by Ark Genomic Revolution ETF (ARKG) which upsurged 18% in the past 12 months and was valued at $3.1 Million as of Monday’s close.&nbsp;&nbsp;
Likewise, Ark Genomic purchased 84,636 shares of pharmaceutical giant Pfizer (PFE) which is valued at $2.2 Million on Monday closing. Also, the stock dropped 36% over the past year.
On the other hand, Ark Investment Management unloaded over 134,749 shares of Coinbase Global (COIN). The stock is one of the biggest cryptocurrency exchanges and is valued at $30.0 Million as of Monday’s close.
Looking at the past six months’ data, COIN stock surged 187% seeking Wood’s attention towards the particular stock. Based on Cathie Wood’s market philosophy, now is a good time to take profits from such stocks.
Furthermore, the selling of COIN stock somehow influenced the stock market, mainly the Coinbase stock, Apple stock as well as Bitcoin.
<h2 class="wp-block-heading" id="strong-impact-of-the-move-on-the-stock-market-strong">Impact Of The Move On The Stock Market</h2>
On Monday, selling over 135,000 shares of stock influenced the stock market. Bitcoin, Coinbase stock, and Apple stocks were influenced by Wood’s actions.
The sale of 135K shares of Coinbase stock worth $30.9 Million gave the stock’s pricea filip of over 11%. However, the share price lowered by 1.1% on Tuesday.
According to CoinMarketCap data, Bitcoin reached its all-time high of $69,170.63 on March 5, 2024. It has been speculated that Ark’s investments have largely affected BTC price action.
Furthermore, the move doesn’t seem favorable to Apple stock as its value plunged 3% on Tuesday. However, the decline in iPhone sales in China in the past six weeks of 2024 is the significant rationale behind the value drop.&nbsp;

Cathie Wood’s Latest Move – Sold Over 135K Crypto Stocks

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Thecoinrepublic.com

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