On Monday, Cathie Wood-led Ark Invest made some significant trades, with Coinbase Global Inc. (NASDAQ:COIN) taking the spotlight. This comes amidst a turbulent market scenario, particularly for cryptocurrencies.
The COIN Trade
Ark Invest's most prominent trade on this day was with Coinbase, a leading cryptocurrency exchange platform. This trade comes at a time when the cryptocurrency market is experiencing significant volatility, with Bitcoin's (CRYPTO: BTC) price falling below the $62,000 mark. This drop in Bitcoin's price has had a direct impact on Coinbase's shares, which also traded lower on Monday.
Coinbase shares stood at $212.31 at the end of Monday's regular session. The firm sold 3,341 Coinbase shares through ARK Next Generation Internet ETF (NYSE:ARKW). The transaction amounted to $709,327.
Other Key Trades:
- Teladoc Health Inc (NYSE:TDOC): Sold 54,256 shares from the ARKG ETF and 61,606 shares from the ARKK ETF.
- Absci Corp (NASDAQ:ABSI): Bought 43,936 shares for the ARKG ETF.
- Verve Therapeutics Inc (NASDAQ:VERV): Sold 10,570 shares from the ARKG ETF and 50,971 shares from the ARKK ETF.
- Roku Inc (NASDAQ:ROKU): Bought 32,989 shares for the ARKK ETF.
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal