ARK Invest Sells Coinbase Shares
ARK Invest is considered one of the investment companies that have placed a lot of bets in the crypto world and the overall surge for that ecosystem.
After the exploding surge for the crypto-related stocks, ARK announced that will liquidate a part of its investment in Coinbase, worth around $5 million.
This move, obviously doesn’t reflect any de-investment from the crypto sector but a strategic, profit-taking action from the stock’s surge and more liquidity storage for the next steps at investment level.
More specifically, Coinbase’s share hit a 18-month high around $120, giving back returns of 168 % from the past year and almost 220 % from the lowest point at January 2023.
We should mention also that the stock is down 70 % from its all-time high of $319, that was achieved in September 2021, during the largest bullish season for cryptos….
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