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International Business Times
International Business Times
Business
Nica Osorio

Cathie Wood's ARK Invest Dumps Coinbase, Adds More Robinhood Stock

ARK Cathie Wood Coinbase Ark Invest HOOD Robinhood ETF Bitcoin Eric Balchunas fintech
Cathie Wood, founder and CEO of ARK Investment Management LLC, speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 13, 2021. (Credit: Reuters / Brendan McDermid)

Cathie Wood's ARK Invest dumped millions of dollars worth of Coinbase shares (COIN) even as the crypto exchange climbed to a 19-month closing high. The American investment management firm also added more Robinhood shares amid the stock trading platform's expansion in the United Kingdom.

Bitcoin bull Wood and ARK Invest sold 43,956 shares of Coinbase worth around $5.2 million this week as the stock reached $119.70 on the Nasdaq market, a 19-month-high last seen in April 2022.

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