{"id":269734,"date":"2024-03-22T15:59:47","date_gmt":"2024-03-22T10:29:47","guid":{"rendered":"https:\/\/dripp.zone\/news\/cathie-woods-firm-dumps-54m-coinbase-robinhood-stocks-crypto-news\/"},"modified":"2024-03-22T16:00:39","modified_gmt":"2024-03-22T10:30:39","slug":"cathie-woods-firm-dumps-54m-coinbase-robinhood-stocks-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/cathie-woods-firm-dumps-54m-coinbase-robinhood-stocks-crypto-news\/","title":{"rendered":"Cathie Wood’s Firm Dumps $54M Coinbase & Robinhood Stocks – Crypto News"},"content":{"rendered":"

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Cathie Wood\u2019s Ark Invest, a major investment management firm, offloaded over $54 million worth of Coinbase (COIN) and Robinhood (HOOD) stocks lately. The dump comes amid a rally for the COIN and HOOD stocks as they attained a fresh 52-week high recently.<\/p>\n

Cathie Wood-led Ark Invest Divests Coinbase & Robinhood Stocks<\/h2>\n

Cathie Wood\u2019s Ark Invest divested around $52.27 million of Coinbase<\/a> stock in the last trading session. On Thursday, March 21, Ark Invest dumped 133,533 Coinbase shares from its ARK Innovation ETF (ARKK). The selloff was worth $34.98 million.<\/p>\n

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In addition, the Cathie Wood-led organization dumped 59,125 shares of Coinbase from ARK Next Generation Internet ETF (ARKW) worth $15.49 million. Moreover, Ark Fintech Innovation ETF (ARKF) initiated a Coinbase stock selloff of 6,778 shares worth $1.77 million.<\/p>\n

Furthermore, Cathie Wood\u2019s firm divested 96,003 Robinhood shares worth $1.77 million from ARKW on Thursday. Hence, the total divestment amounts to $54.04 million. Whilst, the HOOD stock<\/a> closed at $19.09, gaining 2.86% or 0.53 points.<\/p>\n

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Moreover, the Robinhood stock gained 0.21% to $19.13 in the pre-market session on Friday, March 22. Meanwhile, the COIN stock<\/a> surged 1.99% and closed at $262.00 (up 5.12 points) on Thursday. However, it didn\u2019t note a change in the pre-market trading session today.<\/p>\n

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Also Read:\u00a0Fantom & THORChain Price Rally Amid Coinbase Futures Listing<\/a><\/strong><\/p>\n

Reddit IPO Investment<\/h2>\n

The Reddit (RDDT) stock opened trading on Thursday and witnessed a phenomenal surge. The popular social media organization\u2019s IPO was deemed successful as the stock rallied over 48% on the first day of trading. The RDDT stock was up by 48.35% and closed at $50.44 (gaining 16.44 points) on Thursday, according to Yahoo Finance<\/a>.<\/p>\n

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Furthermore, Cathie Wood\u2019s Ark Invest bought a significant amount of Reddit Reddit<\/a> shares during the debut. The firm added a total of 9,982 Reddit shares worth over $503,000 to ARKW and ARKF. However, the RDDT stock witnessed a slump in the pre-market session today. At press time, the Reddit stock was down by 4.46% to $48.19.<\/p>\n

Also Read:\u00a0Reddit Lists on NYSE With $47 Stock Price; Valuation Tops Estimates<\/a><\/strong><\/p>\n

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article. <\/p>\n<\/p><\/div>\n

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