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Cathie Wood's investment management firm ARK Invest has made its third sale of COINBASE (COIN) stock this week, dropping 37,377 shares worth almost $4.7 million at Thursday's closing price.
The crypto exchange's Nasdaq-listed shares reached their highest level since April 2022 at the start of the week, touching $119.77 on Monday. They fell 2.43% on Thursday to close at $124.72, but nonetheless remain at 19-month highs.
It is a frequent play of ARK Invest to accumulate crypto-related shares when they have seen a downward trend then offload them when they turn bullish to bank some profits.
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Read More: ARK Invest Sold $5M Worth of Grayscale Bitcoin Trust Shares Last Week
Edited by Sheldon Reback.
