{"id":278706,"date":"2024-04-06T16:32:48","date_gmt":"2024-04-06T11:02:48","guid":{"rendered":"https:\/\/dripp.zone\/news\/cathie-woods-ark-bullish-on-tesla-sells-53m-in-coinbase-robinhood-this-week-crypto-news\/"},"modified":"2024-04-06T16:32:51","modified_gmt":"2024-04-06T11:02:51","slug":"cathie-woods-ark-bullish-on-tesla-sells-53m-in-coinbase-robinhood-this-week-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/cathie-woods-ark-bullish-on-tesla-sells-53m-in-coinbase-robinhood-this-week-crypto-news\/","title":{"rendered":"Cathie Wood’s Ark Bullish on Tesla, Sells $53M in Coinbase & Robinhood This Week – Crypto News"},"content":{"rendered":"

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The selloff of Coinbase and Robinhood shares by Cathie Wood\u2019s asset investment firm Ark Invest keeps going, with no imminent signs of a slowdown in the selling spree. Ark Invest funds again pared holdings in Coinbase (COIN) and Robinhood (HOOD) shares worth millions despite the sky-high positive sentiment because of bull market and approaching Bitcoin halving<\/a>.<\/p>\n

Coinbase and Tesla shares are the largest holdings in Cathie Wood\u2019s funds, as per data by Ark Invest<\/a>. Ark Invest CEO Cathie Wood has revealed in a Reddit AMA that its Coinbase<\/a> share sale is not dumping but active portfolio management.<\/p>\n

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Cathie Wood\u2019s Ark Invest Sells in Coinbase and Robinhood<\/h2>\n

Cathie Wood\u2019s Ark Invest sold a total of\u00a095,284 Coinbase shares <\/strong>worth nearly $23 million this week, as per trades seen by CoinGape. Also, the funds have sold 1,589,381 Robinhood shares worth nearly $30 million.<\/p>\n

On April 1, Ark Innovation ETF<\/strong> (ARKK) sold 6255 COIN shares and 449,518 HOOD shares, Ark Next Generation Internet ETF<\/strong> (ARKW) offloaded 775 Coinbase shares and 161,261 Robinhood shares, and Ark Fintech Innovation ETF<\/strong> (ARKF) sold 53,017 HOOD shares.<\/p>\n

On April 4, Ark Innovation ETF<\/strong> (ARKK) sold 22,690 COIN shares and Ark Next Generation Internet ETF<\/strong> (ARKW) offloaded 2,972 Coinbase shares.<\/p>\n

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On April 5, Ark Innovation ETF<\/strong> (ARKK) sold 52,292 COIN shares and 695,995 HOOD shares, Ark Next Generation Internet ETF (ARKW)<\/strong> offloaded 10,320 Coinbase shares and 197,757 Robinhood shares, and Ark Fintech Innovation ETF<\/strong> (ARKF) sold 31,833 HOOD shares.<\/p>\n

Coinbase (COIN<\/a>) price closed 3.49% lower to $240.90 on Friday, but recovered 0.71% after market hours. The performance of Coinbase shares was low this week as the price fell 7.94%.<\/p>\n

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HOOD price<\/a> fell 7.58% this week. Robinhood Markets stock price closed 0.27% lower at $18.40 on Friday, with a 0.33% more fall after market hours.<\/p>\n

Also Read: Binance, BinanceUS, CZ Resolve All Discovery Disputes With US SEC, Here\u2019s What Next<\/a><\/strong><\/p>\n

Cathie Wood Goes Massive Bullish on Tesla<\/h2>\n

On April 1, ARK Innovation ETF<\/strong> (ARKK) purchased 62,100 Tesla shares and ARK Next Generation Internet ETF<\/strong> (ARKW) buys 22,064 TSLA shares.<\/p>\n

On April 2, ARK Innovation ETF<\/strong> (ARKK) purchased 182,052 Tesla shares, ARKQ<\/strong> buys 10,202 TSLA, and ARK Next Generation Internet ETF<\/strong> (ARKW) buys 42,744 TSLA shares.<\/p>\n

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On April 5, ARK Innovation ETF<\/strong> (ARKK) purchased 109,206 Tesla shares and ARK Next Generation Internet<\/strong> ETF (ARKW) buys 24,769 TSLA shares.<\/p>\n

TSLA price<\/a>\u00a0closed 3.63% lower at $164.90 on Friday. Elon Musk\u2019s Tesla stock price has dropped 6.39% this week.<\/p>\n

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Cahie Wood about the Tesla Q1 P&D Report and PT<\/p>\n

Interviewer” You’ve been buying (Tesla)!”<\/p>\n

Cathie “Yes, We were selling when it was around 400 and 350, when its been cut in half, down 60% is not the time to run to the hills, if you believe and we also believe Tesla is going to\u2026 pic.twitter.com\/CmkT0SjsuC<\/a><\/p>\n

\u2014 Alex (@alex_avoigt) April 3, 2024<\/a><\/p>\n<\/blockquote>\n

Also Read: BTC Price to Hit $70K This Week<\/a><\/strong><\/p>\n

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Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry. <\/p>\n<\/p><\/div>\n

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