Cathie Wood's Ark Invest Continues Selling Spree, Offloads Coinbase Shares as Prices Surge

Cathie Wood's Ark Invest has continued to sell off its holdings of Coinbase shares, as well as Nvidia and Robinhood shares, amid significant price increases. On March 5, Ark Invest sold an additional $24 million worth of Coinbase stock, and last week offloaded $45 million worth of shares as the price hit a 2-year high. The proceeds were used to increase holdings in Tesla, which saw a price drop of almost 10% amid disputes with OpenAI. Ark funds also sold shares in Coinbase, Nvidia, and Robinhood on March 4.