The tech investor bought shares for around $280 million in July.
(Photo: Reuters)
Dusseldorf Layoffs, a case of insider trading and regulatory problems: The crypto exchange Coinbase has been struggling with many problems this year in addition to the bad mood in the crypto market. The stock has lost 75 percent of its value since the beginning of the year.
Now, Cathie Wood, one of Coinbase’s most popular supporters, is distancing herself by selling her title for the first time this year.
With her flagship fund, ARKK, the well-known investor dumped around $70 million worth of Coinbase shares on July 26 — roughly a fifth of her total holding. This emerges from reports from their investment company Ark Invest, which the Handelsblatt has evaluated.
Read below how analysts assess the chances at Coinbase, which stock Wood completely divested from and where she bought instead.
Top jobs of the day
Find the best jobs now and
be notified by email.
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue
Read on now
Get access to this and every other article in the
Web and in our app free of charge for 4 weeks.
Continue