Cathie Wood’s ARK Invest is offloading more Coinbase shares after the stock closed Monday at $105.55, just shy of its one-year high of $107.
A trade disclosure sent out by the growth-focused fund shows that it offloaded 248,838 of COIN, worth just over $26 million, based on Monday’s closing price.
“We’re very positive about Coinbase, especially in light of the court ruling for Ripple against the SEC,” Wood recently said on Bloomberg Daybreak Asia. “We’re simply taking profits and reallocating the capital to some laggards.”
Wood recently said that ARK has written down its stake in Twitter by 47% since Elon Musk took it private last year.
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