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ARK buys another $64 mln in Coinbase shares, sells $99.5 mln of Tesla shares

Reuters2021-04-17

April 16 (Reuters) - Cathie Wood’s ARK funds bought more shares of cryptocurrency exchange Coinbase Global Inc on Friday while selling shares of electric carmaker Tesla

, according to the firm's daily trade summary.

ARK on Friday bought 187,078 shares of Coinbase, which debuted on the Nasdaq earlier this week, in a purchase worth nearly $64 million at the day’s closing price of $342.

It sold 134,541 shares of Tesla, valued at $99.5 million at Friday's close. Tesla is still by far the firm's biggest position by value on its major funds.

The funds added to were the flagship ARK Innovation fund

, the Next Generation Internet ETF and the Fintech Innovation ETF .

The Coinbase purchases add to the 341,186 shares purchased on Thursday and 749,205 purchased on Wednesday.

ARK sold the Tesla shares from its flagship fund and its Next Generation Internet ETF.

The bet on Coinbase gives ARK more indirect exposure to cryptocurrencies on top of its big bets on the likes of Tesla, which recently invested in bitcoin and said it would accept the cryptocurrency as payment for its cars.

Celebrity fund manager Wood gained prominence last year among retail investors and managed to attract a steady pile of cash into her red-hot funds.

(Reporting by Ira Iosebashvili; Editing by Leslie Adler)

((Ira.Iosebashvili@thomsonreuters.com;))

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Comment33

  • Trevina
    ·2021-04-18
    good move?
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  • 我i168
    ·2021-04-18
    Reply
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  • kimkimlaw
    ·2021-04-18
    Should I enter Tesla
    Reply
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    • Estada
      i think coinbase has more upside
      2021-04-18
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  • kimkimlaw
    ·2021-04-18
    Got frightened by her act 
    Reply
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  • 木吉蒂
    ·2021-04-17
    If TSLA is $740 & she's expecting it to hit $3000 ie 4x, she must be expecting Coinbase to do better [疑問] [思考] 
    Reply
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    • KinKat
      [财迷]
      2021-04-17
      Reply
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  • Xaviert
    ·2021-04-17
    Like and comment
    Reply
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  • MyQin
    ·2021-04-17
    Like and comment pls
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    • daggerw
      liked and commented !
      2021-04-18
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  • Whateverrr
    ·2021-04-17
    I believe in ARK now 
    Reply
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    • VincentYeoReplying toWhateverrr
      trust
      2021-04-19
      Reply
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    • Whateverrr
      Thank you. Can youh help to comment?
      2021-04-18
      Reply
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    • pakthedude

      Trust in ARK Invest

      2021-04-18
      Reply
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    View more 1 comments
  • Juliantotans
    ·2021-04-17
    This is a very good news, keep buying coinbase
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    • janelie
      great, buy coinbase
      2021-04-19
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    • Tazjonz
      [Miser][Miser][Miser]
      2021-04-17
      Reply
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    • Gyhzz
      ??
      2021-04-17
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    View more 1 comments
  • Samsong
    ·2021-04-17
    Strategic move by Cathie Woods. The future is Crypto currency. 
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  • VernardChin
    ·2021-04-17
    This is interesting 
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  • dwh790101
    ·2021-04-17
    不要停,接着買!下週再接再厲!
    Reply
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    • Whateverrr
      No money, how? :(
      2021-04-17
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  • Loverider20
    ·2021-04-17
    Great
    Reply
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  • J355
    ·2021-04-17
    What happens next?
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    • Cumcumber
      Make money loh
      2021-04-18
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  • Zarkness
    ·2021-04-17
    Hmm I rem she say Tesla $3k. Y sell now??
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    • Zarkness
      Seems like she is also not convince lor
      2021-04-17
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    • Ll huat
      Ya why?
      2021-04-17
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  • yyykkk
    ·2021-04-17
    ark 在製造大量的泡沫,尤其是非常不喜歡她對加密貨幣無時無刻的鼓吹
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    • yyykkk

      我不是股神,但我认为她的基金如果今年还是很好,那真是市场瞎了眼


      2021-05-03
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    • Zarkness
      Hmm. do u think she will outperForm this year?
      2021-04-17
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  • Zarkness
    ·2021-04-17
    Woah , pls like and comments . Thanks ? 
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  • VincentYeo
    ·2021-04-17
    Diu diu diu
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  • Relaxtrade
    ·2021-04-17
    Bullish on Coinbase let's goooo
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  • Hayz
    ·2021-04-17
    Let us add coinbase and make money, any comments?
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    • 海星辰
      太高了。会爆涨也会爆跌。等爆跌才买。
      2021-04-17
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    • Zarkness
      Yeah! But valuAtion is veey hIgh
      2021-04-17
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    • lyh1357
      buy and buy
      2021-04-17
      Reply
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