Company name: Ark Investment Management Cathy Wood changed her investment strategy from adding more shares on dips to selling Coinbase shares for the first time in nearly a year. The first share sale since July 26, 2022, took place on Tuesday when the company’s cornerstone, Ark Investment Management LLC, sold 135,152 shares of the cryptocurrency exchange operator.
For the first time in over a year, Katie Wood, founder of Ark Investment Management LLC, sold Coinbase shares. The operator of a cryptocurrency exchange sold 135,152 shares of its flagship Ark Innovation ETF on Tuesday, the first share sale since July 26, 2022. The decision contrasts with her earlier investment strategy, which involved buying additional shares as the market fell.
For the first time since July 26, 2022, the flagship Ark Innovation ETF by Ark Investment Management LLC sold 135,152 shares of Coinbase. Since then, on declines, the company has continued to add more shares of the cryptocurrency exchange operator. The company’s investment strategy has changed as a result of the decision to sell Coinbase shares.
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Katie Wood Perceives Coinbase
Ark Investment Management LLC’s founder, Kathy Wood, has previously shown enthusiasm about Coinbase. It has been increasing its holdings in the bitcoin exchange operator on dips since July 26, 2022. However, this is the first time in nearly a year that the company has sold 135,152 Coinbase shares. The action denotes a shift in Katie Wood’s opinion of Coinbase.
The investment portfolio of Cathy Wood
Company name: Ark Investment Management Cathy Wood owns stock in a variety of businesses as part of her diversified investment portfolio. Since July 26, 2022, the company has been optimistic about Coinbase and has bought additional shares as they fell in price. But now, for the first time in nearly a year, the company has sold 135,152 shares of the company that runs a cryptocurrency exchange.
Ark Investment Management LLC’s founder, Katie Wood, has previously expressed enthusiasm for cryptocurrencies. Her company has made investments in several cryptocurrencies, such as Bitcoin and Ethereum. The corporation did, however, sell 135,152 shares of Coinbase for the first time in almost a year, indicating Katie Wood’s evolving perspective on cryptocurrencies.
Impact on Coinbase Market Value
For the first time in nearly a year, Cathy Wood’s Ark Investment Management LLC sold 135,152 shares of Coinbase. The market value of the operator of the Bitcoin exchange will probably be impacted by this action. However, Coinbase is doing well in the market, and the value of its shares is increasing.
Conclusion
Company name: Ark Investment Management For the first time in almost a year, Cathy Wood sold Coinbase shares, indicating a shift in the company’s investment philosophy. The decision contrasts with her earlier investment strategy, which involved buying additional shares as the market fell. The cryptocurrency market has been unstable, and Kathy Wood’s company’s action may be an example of the difficulties investors have while choosing the ideal investing strategy.
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