On Monday, Cathie Wood-led Ark Invest made some significant trades, with Coinbase Global Inc. COIN taking the spotlight. This comes amidst a turbulent market scenario, particularly for cryptocurrencies.
The COIN Trade
Ark Invest’s most prominent trade on this day was with Coinbase, a leading cryptocurrency exchange platform. This trade comes at a time when the cryptocurrency market is experiencing significant volatility, with Bitcoin’s BTC/USD price falling below the $62,000 mark. This drop in Bitcoin’s price has had a direct impact on Coinbase’s shares, which also traded lower on Monday.
Coinbase shares stood at $212.31 at the end of Monday’s regular session. The firm sold 3,341 Coinbase shares through ARK Next Generation Internet ETF ARKW. The transaction amounted to $709,327.
Other Key Trades:
- Teladoc Health Inc TDOC: Sold 54,256 shares from the ARKG ETF and 61,606 shares from the ARKK ETF.
- Absci Corp ABSI: Bought 43,936 shares for the ARKG ETF.
- Verve Therapeutics Inc VERV: Sold 10,570 shares from the ARKG ETF and 50,971 shares from the ARKK ETF.
- Roku Inc ROKU: Bought 32,989 shares for the ARKK ETF.
Read Next: Bitcoin, Ethereum, Dogecoin Fall On Investor Worries: Analyst Warns Of King Crypto’s Dip Below $60K
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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