On Monday, Cathie Wood’s investment firm, Ark Invest, made significant changes to its portfolio by disposing of 3769 shares of Coinbase (COIN). This action follows a potential rebound in Coinbase stock, which has increased by 11.2% on the weekly chart. With a robust market recovery on Wall Street, the COIN stock experienced a daily gain of 6.32%, closing the trading day at $287.
Cathie Wood’s Ark Invest Dumps Coinbase Stock
On Monday, the Ark Fintech Innovation ETF (NYSEARCA: ARKF) disposed of approximately 3769 shares of Coinbase stock, valued at around $1.08 million. This sale represented a mere 0.1% decrease in their total holdings and was part of routine adjustments.
In September last year, Ark Invest significantly increased their holdings of Coinbase shares, right before the significant surge in COIN stock prices. At that time, the share value was around $150. Since then, the share price has skyrocketed by an impressive 91%, resulting in substantial returns on investment (ROI) for Ark Invest within a short span of four months from their investments.
Ark Investments initially invested in Coinbase and still maintains a substantial number of COIN shares as part of its portfolio today. The Ark Fintech Innovation ETF (ARKF), which includes Coinbase stock among its holdings, has yielded impressive returns of approximately 50% over the past year, accompanied by investments in Shopify and Block Inc.
As a researcher, under the guidance of Cathie Wood, I am inclined to seek out similar investment opportunities. Given that Donald Trump has assumed office at the White House this month, my optimism towards the future of the U.S. economy over the next few years is even more pronounced.
Cathie Wood from Ark Invest pointed out that during Trump’s presidency, changes in the U.S. Securities and Exchange Commission (SEC) might significantly fuel American inventiveness. She emphasized that fresh leadership at both the SEC and Federal Trade Commission (FTC) could pave the path for a revolutionary period of technological progress within the U.S.
COIN Share Price Expectation for 2025
2024 saw a broad surge in the crypto market, and as a result, Coinbase’s stock price rose significantly by approximately 80% over the past year. Market experts predict that this upward trend could continue into both the remaining part of 2024 and 2025. On Monday, the share price for Coinbase increased by 6.32%, concluding the trading day at $287.
In anticipation of their Q4 financial report, experts are predicting increased prices for the cryptocurrency exchange’s shares. Analyst opinions suggest that the COIN stock may reach $400 before the earnings release, representing a 37% potential increase from current levels. A positive regulatory climate and the crypto market enthusiasm during Donald Trump’s presidency could potentially accelerate this growth.
Coinbase Insiders Are Selling the Stock
In addition to Ark Invest, there’s been an increase in selling from Coinbase insiders lately. Last week, on January 2nd, Coinbase’s Chief Technology Officer, Paul Grewal, sold 10,000 shares, earning him around $2.57 million. This sale reduced his company stake by about 12.59%, leaving him with roughly 69,407 shares worth approximately $17.82 million. Over the past few months, Paul Grewal has been gradually selling off his COIN stocks.
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2025-01-07 12:24