tl;dr
Cathie Wood's ARK Innovation ETF recently sold around 44,000 shares of Coinbase, amounting to $5.3 million, as per a trade notification seen by Cointelegraph. At the time of the sale, the stock of COIN had reached $119.7 per share, with the company's shares surging by 281.6% year to date and curre...
Cathie Wood's ARK Innovation ETF recently sold around 44,000 shares of Coinbase, amounting to $5.3 million, as per a trade notification seen by Cointelegraph.
At the time of the sale, the stock of COIN had reached $119.7 per share, with the company's shares surging by 281.6% year to date and currently trading at $128 per share, the highest in 19 months. ARKW has been consistently selling its shares in COIN throughout the year, including a sale of around $12 million on July 12 when the stock was trading around $90 per share. Additionally, ARK has been actively selling off Grayscale Bitcoin Trust (OTC:GBTC) stock, with around 94.6K GBTC shares sold for roughly $3 million on Nov. 24.
More about Coinbase Global Inc
Key Financial Metrics: Coinbase Global Inc. has a market capitalization of $28,654,492,000 and a trading volume of $2,627,473,000. The stock has a price-to-earnings ratio of 88.29 and a price-to-book ratio of 3.27.
Stock Performance: The stock has experienced a 3.2% decrease and a 11.3% volatility. The stock is currently trading at -0.28.
Market Sentiment: Despite the recent decrease in stock price, the market sentiment remains positive, with a bullish trend in the crypto economy. However, there are potential risks and uncertainties associated with the volatility of the cryptocurrency market and the stock performance of Coinbase Global Inc.
Disclaimer:
This is not financial advice. Please do your own research before investing in any asset.