Cathie Wood Dumps $11 Milllion Worth of Tesla Stock While Doubling Down on These Notable Crypto Plays

Benzinga12-19 15:00

On Thursday, Cathie Wood-led Ark Invest made significant trades involving Tesla, Coinbase, and Brera Holdings.

The Tesla Trade

Ark Invest executed a notable transaction by selling 23,110 shares of Tesla through its ARK Innovation ETF (BATS:ARKK). The sale, valued at approximately $11.2 million, comes amid a backdrop of Tesla’s stock pulling back after reaching all-time highs earlier in the week.

Tesla’s shares have been experiencing volatility, with investors closely watching the company’s autonomous driving advancements.

Despite the recent dip, Tesla’s stock closed at $483.37 on Thursday, marking a 3.45% increase. This movement reflects ongoing market interest, even as Ark adjusts its holdings in the electric vehicle giant.

The Coinbase Trade

Ark Invest also made a strategic purchase of Coinbase shares across its ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARK Next Generation Internet ETF (BATS:ARKW) and ARKK. The combined acquisition of 17,386 shares is valued at approximately $4.15 million. This move aligns with Coinbase’s recent announcement of launching traditional stock trading, as detailed in a Benzinga article.

Coinbase announced it would launch commission-free U.S. stock trading with 24-hour access five days a week, expanding beyond its crypto-only roots. The company positioned the move as a step toward becoming a single platform for both digital assets and traditional equities, while laying groundwork for future tokenized stocks. Management said regulatory constraints required starting with conventional stock trading before pursuing blockchain-based equities. The expansion aimed to diversify revenue and reduce dependence on volatile crypto trading cycles.

The Brera Holdings Trade

Ark Invest significantly increased its stake in Brera Holdings by purchasing a total of 575,644 shares through its ARKW, ARKF and ARKK ETFs. This acquisition, valued at approximately $1.4 million, follows Brera Holdings’ strategic initiatives, including its Solana (CRYPTO: SOL) treasury strategy, which previously led to a notable stock rally. On Thursday, Brera Holdings’ stock saw a modest rise of 0.84%, closing at $2.39.

Other Key Trades:

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Comments

  • Mineminemineallmine
    02:01
    Mineminemineallmine
    By the time TSLA reaches 1,600, she has 1 share left.
  • BK99
    12-19 20:26
    BK99
    Off course Investor like Ark would like to cash out and make some profits 
  • Warzypants
    12-19 15:15
    Warzypants
    Ark does tend to take profits on $Tsla following a major increase in price, because that typically unbalances their portfolio and they need to bring it back within announced limits. The headline referencing "Dumping stock" tends to make this look like Ark suddenly went off $Tsla for some reason, but they remain very bullish and have taken similar actions many times before.
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