In a popular analogy for the latter scenario, technical analysts might say that the generals are charging while the soldiers are in retreat. Trends supported by just a handful of influential stocks tend to be weak. If a move in the stock market shows broad movement across a wide swath of stocks, then it's thought to be strong. ![]() These actions align with Ark Invest’s investment strategies and underscore Wood’s continued optimism in the cryptocurrency and technology sectors.What Sonders and other financial experts are concerned with is a measure known as stock market "breadth" - a tool favored by technical analysts to determine the strength or weakness of moves in the stock market. Similarly, Robinhood’s stock price surged by 13%, ending the week with a closing price of $12.38.Ĭathie Wood’s strategic moves in Ark Invest’s portfolio reflect the firm’s proactive approach to capitalizing on market opportunities and diversifying investments. ![]() Related: Bitcoin Will Hit $1 Million by 2030, Claims Ark Invest CEO Cathie Woodĭuring the week, Meta Platforms experienced a nearly 5% increase, with shares closing at $308.87 on Friday. ![]() Furthermore, ARK Next Generation Internet ETF (ARKW) expanded its holdings by purchasing 12,559 META shares and 169,116 Robinhood shares. This strategic move highlights Ark Invest’s commitment to diversifying its portfolio and capitalizing on new market opportunities.Īrk Innovation ETF (ARKK) acquired 69,793 META shares, while ARK Fintech Innovation ETF (ARKF) purchased 111,843 Robinhood shares. In addition to the Coinbase sell-off, Cathie Wood’s Ark Invest made notable acquisitions of Meta Platforms (META) and Robinhood (HOOD) shares. Read More: Cathie Wood Sees Binance’s Legal Troubles as an Advantage for Coinbase A Look Into Ark’s Investments Ripple lawsuit, also boosted other crypto-related stocks. It’s worth noting that Coinbase’s surge, combined with positive developments in the ongoing US SEC v. However, on Friday, the stock experienced a 1.58% decline, closing at $105.31 as investors locked in profits. Additionally, ARK Fintech Innovation ETF (ARKF) offloaded 35,666 COIN sharesĬoinbase’s impressive 33% rally throughout the week contributed to its year-to-date surge of 213%. Ark Innovation ETF (ARKK) sold 263,247 COIN shares, while ARK Next Generation Internet ETF (ARKW) sold 93,227 COIN shares. The sale of Coinbase shares affected various Ark Invest funds differently. This decision coincided with Coinbase’s stock price reaching a yearly high of $114.43. On July 14, Ark Invest sold a total of 478,356 Coinbase (COIN) shares valued at $53 million. Coinbase Stock Surge: A Boon for Many!Ĭathie Wood, a prominent Bitcoin bull, seized the opportunity to capitalize on Coinbase’s soaring stock price by selling a portion of Ark Invest’s Coinbase (COIN) holdings. This move comes as no surprise, considering the firm’s proactive approach to capitalizing on market opportunities. ![]() In a recent development, Ark Invest has made significant moves, selling Coinbase shares worth an impressive $53 million while simultaneously adding Meta Platforms and Robinhood shares to its holdings.Īs part of its ongoing effort to adjust its exposure to the cryptocurrency sector, Ark Invest decided to reduce its holdings in Coinbase, a leading cryptocurrency exchange. Renowned for its forward-thinking investment strategies, Cathie Wood‘s Ark Invest has attracted close attention from investors seeking insights into the firm’s ever-evolving portfolio. Cathie Wood's strategic moves reflect a proactive approach to diversify and capitalize on market opportunities.
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