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On Wednesday, Cathie Wood-led Ark Invest sold shares of Coinbase Global, Inc. (NASDAQ:COIN) and purchased those of Palantir Technologies Inc. The Coinbase trade took place amid a backdrop of an uptick in the prices of Bitcoin (CRYPTO: BTC) — the apex cryptocurrency.
The COIN Trade
Ark sold 24,141Coinbase shares through ARK Innovation ETF (NYSE:ARKK), ARK Next Generation Internet ETF (NYSE:ARKW), and Ark Fintech Innovation ETF (NYSE:ARKF). The company’s stock, COIN, has been climbing higher, as reported in a Benzinga article. The closing data for COIN on Wednesday, April 10, 2024, was $250.99, marking a 3.31% increase. Based on the data, the transaction amounted to $6.06 million.
The PLTR Trade
Ark Invest also made a significant move by buying shares of Palantir Technologies This decision aligns with Ark’s strategy of investing in innovative technology companies. The transaction came on a day when Palantir shares saw a slight decrease of 1.71% in its last close price of $22.42. The firm purchased 10,039 shares worth $225,074.
It should be noted that Wood-led Ark had also purchased Palantir shares a day earlier to the tune of $90,647.
See Also: Can Dogecoin Flip Ripple? Here’s What It Would Take
Other Key Trades:
- Ark Invest bought shares of Teladoc Inc. (TDOC) for its ARKF fund. It also sold stock of UiPath Inc. (PATH) from the ARKG fund.
- The ARKG fund also saw the purchase of shares of Recursion Pharmaceuticals (RXRX). Ark Invest’s ARKQ fund bought shares of Iridium Communications Inc. (IRDM).
- The ARKW fund saw the purchase of shares of Roku Inc. (ROKU).
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