Katie Wood and her Ark Investment fund sold shares of the Coinbase crypto exchange for $25 million on January 4 and purchased 105,201 shares of Tesla with these funds. They write about this on Investor Business Daily.
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The fund has made these agreements , when Tesla shares sank by 4% and the crypto market went down again. The price of shares of the leading manufacturer of electric cars was $238.45. At the time of writing the news, shares continued to decline to $237.93.
Over the last 5 days, Coinbase shares fell by 13%, but their value increased by 2.21% over the day after the sale of the Ark Investment package.
In the fund's portfolio, Coinbase shares continue to occupy first place – 10.22%, and TSLA – second with a weight of 7.96%.
Exactly a year ago, Cathie Wood made a similar agreement and bought Tesla shares in moment of their fall – then the securities reached their minimum for many months.
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- Cryptocurrency Shares (valuable papers) Tesla Stock Market
