• 20/04/2024 15:15

Cathie Wood's fund sold $25 million in Coinbase shares and bought Tesla

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.

Cathie Wood's fund sold $25 million worth of Coinbase shares and bought Tesla

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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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