Ark sells $4.7 million worth of Coinbase stock | CoinDesk JAPAN

Cathie Wood’s investment management firm ARK Invest sold Coinbase stock for the third time this week, selling for about $4.7 million at the Nov. 30 closing price. 37,377 shares worth 1 billion yen (exchanged at 1 dollar = 150 yen) were sold.

Combined with the sales on Nov. 27 and Nov. 29, Ark sold about $15 million worth of Coinbase stock from its Next Generation Internet ETF this week.

Nasdaq-listed Coinbase stock hit its highest price since April 2022 on November 27, reaching $119.77. It has continued to rise since then, dropping 2.43% to close at $124.72 on the 30th, but still remains at a 19-month high.

Ark Invest’s usual practice is to accumulate money when crypto-related stocks are in a downtrend and sell them to secure profits when they turn bullish.

｜Translation: CoinDesk JAPAN
｜Edited by: Toshihiko Inoue
｜Image: Shutterstock
｜Original text: Cathie Wood’s ARK Invest Offloads a Further $4.7M Worth of Coinbase Shares