Cathie Wood’s Ark Invest On Coinbase, Nvidia, Robinhood Selling Spree

Cathie Wood’s investment management firm Ark Invest is on a selling spree for Coinbase (COIN), Nvidia (NVDA), and Robinhood (HOOD) shares, despite better-than-expected earnings. Prices of all three stocks have surged over 30% in a month.

Cathie Wood’s Ark Invest Continues Selling Coinbase Shares

Cathie Wood’s Ark Invest sold a total of 72,242 Coinbase shares worth over $12 million, as per trades seen by CoinGape. The Coinbase shares selloff this week are as follows:

On Feb 22, ARK Innovation ETF (ARKK) sold 2,828 Coinbase shares. After its better-than-expected earnings report, Ark Invest funds offloaded $31 million worth of COIN shares as the price hit a 2-year high of $190.

On Feb 21, ARK Innovation ETF (ARKK) sold 31,747 Coinbase shares and Ark Fintech Innovation ETF (ARKF) offloaded 8,936 COIN shares.

On Feb 20, ARK Innovation ETF (ARKK) sold 19,732 Coinbase shares, Ark Fintech Innovation ETF (ARKF) sold 4,970 COIN stocks, and ARK Next Generation Internet ETF (ARKW) offloaded 4,029 Coinbase shares.

Coinbase (COIN) price fell 12.26% this week. On Friday, COIN closed 2.88% lower at $165.98 and another 0.59% fall after hours.

Cathie Wood Also Dumps Nvidia and Robinhood Shares

Despite a bullish outlook on artificial intelligence (AI), Cathie Wood’s Ark funds offloaded Nvidia shares again this week. Last week, ARK Autonomous Technology & Robotics ETF (ARKQ) decided to offload 12,146 Google and 2,707 Nvidia holdings. ARKW also offloaded 1,969 NVIDIA shares.

On Feb 22, ARK Next Generation Internet ETF (ARKW) offloaded 5,067 Nvidia shares worth $4 million. NVDA price soared 6.41% this week, closing at $788.17 on Friday.

Moreover, ARKW sold 190,413 Robinhood shares and ARKF offloaded 104,669 shares on Feb 20. ARK also offloaded 37,312 shares on Feb 22.

HOOD price jumped 8.46% this week. Robinhood Markets stock price closed 3.65% higher at $14.48 on Friday, with 1.17% more surge in after market hours.

Source