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Amid the Earnings Season, Cathie Wood of Ark Invest Offloads Coinbase and Tesla Shares

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According to reports by a reliable news outlet, yesterday, July 25, Cathie Wood’s investment management company Ark Invest fund, ARKW (ARK Next Generation Internet ETF), offloaded 53,675 Coinbase shares valued at $5.4 million.

After declining over 10% within the last seven days, the TSLA share price closed at 1.40%, a decrease of $265.28 yesterday, making Ark invest and other investors begin their profit booking.

READ ALSO:XRP Community Hush Those that Hate Judge Analisa Torres Judgment In Ripple Vs SEC Case

Fast facts

  • Cathie Wood, the Bitcoin bull, keeps on her selling spree on Tesla (COIN) and Coinbase (COIN) as the stock prices come closer to the 52-week high levels.
  • Previously, Wood offloaded shares of Iovance Biotherapeutics, Exact Sciences, and Airbus SE. Ark Invest purchased Incyte, Kratos Defense & Security Solutions, Cameco, Spotify, Iridium Communications, Accolade, and Moderna shares.
  • In addition, Wood’s ARK Autonomous Technology & Robotics ETF (ARKQ) also sold up to 20,700 TSLA shares, valued at $5.5 million, yesterday.
  • On Tuesday, July 25, the stock price of COIN closed at 1.18%, which is lower at $97.68. However, it increased by 0.17% to $97.85 in pre-market hours today.
  • According to Cathie Wood, the Ark Invest firm is taking its profits while reallocating its capital to other cryptocurrency-related shares like Meta and Robinhood markets.
  • Furthermore, she maintained that BTC (Bitcoin) price may likely hit $1.5 million by 2030 following the landmark judgment in the Ripple versus SEC case by Judge Torres and the series of Bitcoin ETF filings.
  • In addition, Ark Invest funds also sold off Tesla shares that were valued in millions this July before the earnings release. Tesla even has to report a hike in net profit and revenue, but its shares declined due to the failure in operating margin.

What’s Happening In Crypto Today?

At this time of writing, the price of Bitcoin is at $29,225.10, with an increase in market cap by 0.37% and a decrease in volume by 11.13%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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