ARK buys another $64 mn in Coinbase shares, sells $99.5 mn of Tesla shares, Car News, ET Automobile
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Cathie Wood’s ARK cash acquired much more shares of cryptocurrency exchange Coinbase International Inc on Friday though promoting shares of electric carmaker Tesla , according to the firm’s day-to-day trade summary.
ARK on Friday bought 187,078 shares of Coinbase, which debuted on the Nasdaq previously this 7 days, in a buy really worth just about $64 million at the day’s closing selling price of $342.
It bought 134,541 shares of Tesla, valued at $99.5 million at Friday’s shut. Tesla is even now by much the firm’s major posture by benefit on its main money.
The funds additional to had been the flagship ARK Innovation fund , the Upcoming Technology Internet ETF and the Fintech Innovation ETF.
The Coinbase buys include to the 341,186 shares bought on Thursday and 749,205 purchased on Wednesday.
ARK bought the Tesla shares from its flagship fund and its Following Era Online ETF.
The guess on Coinbase gives ARK a lot more oblique publicity to cryptocurrencies on major of its big bets on the likes of Tesla, which just lately invested in bitcoin and mentioned it would acknowledge the cryptocurrency as payment for its automobiles.
Movie star fund manager Wood gained prominence last yr among retail traders and managed to entice a steady pile of hard cash into her crimson-warm funds.
