COIN

Million

Elon Musk

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 <a href="https://bitcoinworld.co.in/wood-says-ark-is-taking-profits-as-it-sells-26-million-in-coin/" title="Wood Says ARK Is ‘Taking Profits’ as It Sells $26 Million in COIN" rel="noopener noreferrer nofollow"></a> 
 Cathie Wood’s ARK Invest has once again sold a significant number of Coinbase shares as the stock continues to perform well. A trade disclosure by the growth-focused fund revealed that it offloaded 248,838 COIN shares, valued at over $26 million based on Monday’s closing price of $105.55. This comes after ARK had previously sold 480,000 COIN shares worth $50.5 million across three funds on July 14. 
 The fund’s decision to sell Coinbase shares is not a reflection of its outlook on the company. In fact, Wood recently expressed optimism about Coinbase, particularly in light of the court ruling for Ripple against the Securities and Exchange Commission (SEC). However, ARK is taking profits from its Coinbase holdings and reallocating capital to other investment opportunities that have been underperforming. 
 Wood also mentioned that ARK has written down its stake in Twitter by 47% since Elon Musk took the social media platform private last year. This highlights the dynamic nature of ARK’s investment strategy, where it adjusts its holdings based on evolving market conditions and the performance of individual companies. 
 While ARK Invest’s recent actions indicate a reduction in its Coinbase position, it is important to note that the fund’s overall investment approach remains focused on long-term growth and innovation. The decision to sell Coinbase shares should be viewed in the context of ARK’s portfolio management strategy, rather than a negative sentiment towards the company itself. 
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 The post <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in/wood-says-ark-is-taking-profits-as-it-sells-26-million-in-coin/">Wood Says ARK Is ‘Taking Profits’ as It Sells $26 Million in COIN</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://bitcoinworld.co.in">BitcoinWorld</a>.
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Wood Says ARK Is ‘Taking Profits’ as It Sells $26 Million in COIN

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