{"id":13273,"date":"2022-05-13T02:44:11","date_gmt":"2022-05-13T02:44:11","guid":{"rendered":"https:\/\/harchi90.com\/cathie-wood-loads-up-on-the-collapsing-coinbase-grabbing-more-than-500k-shares\/"},"modified":"2022-05-13T02:44:11","modified_gmt":"2022-05-13T02:44:11","slug":"cathie-wood-loads-up-on-the-collapsing-coinbase-grabbing-more-than-500k-shares","status":"publish","type":"post","link":"https:\/\/harchi90.com\/cathie-wood-loads-up-on-the-collapsing-coinbase-grabbing-more-than-500k-shares\/","title":{"rendered":"Cathie Wood loads up on the collapsing Coinbase, grabbing more than 500K shares"},"content":{"rendered":"<div data-test-id=\"content-container\">\n<p><figure class=\"getty-figure\" data-type=\"getty-image\"> <picture>  <\/picture><figcaption class=\"caption\" data-type=\"getty-image\">\n<p>Movus \/ iStock Editorial via Getty Images<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p>High-profile investor Cathie Wood continued her reputation as a crypto bull, swooping in to purchase<span class=\"paywall-full-content\"> 546K shares of the crashing Coinbase Global (<\/span><span class=\"ticker-hover-wrapper paywall-full-content\">NASDAQ: COIN<\/span><span class=\"paywall-full-content\">) across three of her six actively managed ARK exchange traded funds on Wednesday.<\/span><\/p>\n<p class=\"paywall-full-content\">Wood and her team picked up shares of COIN for her flagship ARK Innovation ETF (<span class=\"ticker-hover-wrapper\">NYSEARCA: ARKK<\/span>).  The buying di lei also extended to her di lei ARK Fintech Innovation ETF (<span class=\"ticker-hover-wrapper\">NYSEARCA: ARKF<\/span>) and her ARK Next Generation Internet ETF (<span class=\"ticker-hover-wrapper\">NYSEARCA: ARKW<\/span>).<\/p>\n<p class=\"paywall-full-content\">ARKK snatched up most of the shares of COIN, totaling 360,855 shares.  Meanwhile, ARKF grabbed 123,122 shares and ARKW purchased 62,602 shares.<\/p>\n<p class=\"paywall-full-content\">COIN represents ARKK&#8217;s tenth largest holding, with a weighting of 3.80%.  At the same time, it stands as ARKF&#8217;s fourth largest position, with a 6.71% weighting, and ARKW&#8217;s sixth most significant holding, at 5.54%.<\/p>\n<p class=\"paywall-full-content\">Coinbase has been in freefall of late as the crypto exchange platform has lost ground in five straight sessions.  The decline has come amid a general meltdown in the cryptocurrency market and following a weak earnings report from the company.<\/p>\n<p class=\"paywall-full-content\">Meanwhile, Thursday has seen another round of selling, as the stock opened lower by <span class=\"red\">15.5%<\/span>.  On Wednesday, COIN plunged <span class=\"red\">26.4%<\/span> and over the past five sessions the stock has cratered <span class=\"red\">57%<\/span>.<\/p>\n<p class=\"paywall-full-content\">Year-to-date price action: ARKK <span class=\"red\">-61.9%<\/span>ARKF<span class=\"red\"> -61.8%<\/span>ARKW <span class=\"red\">-60.3%<\/span>and COIN <span class=\"red\">-78.3%<\/span>.<\/p>\n<p class=\"paywall-full-content\">Additionally, the sinking of COIN can be attributed to one of the factors for ARKF dropping to an all-time record low on Thursday as the fund fell to $ 15.53 a share.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Movus \/ iStock Editorial via Getty Images High-profile investor Cathie Wood continued her reputation as a crypto bull, swooping in to purchase 546K shares of the crashing Coinbase Global (NASDAQ: COIN) across three of her six actively managed ARK exchange traded funds on Wednesday. Wood and her team picked up shares of COIN for her &hellip;<\/p>\n<p class=\"read-more\"> <a class=\"\" href=\"https:\/\/harchi90.com\/cathie-wood-loads-up-on-the-collapsing-coinbase-grabbing-more-than-500k-shares\/\"> <span class=\"screen-reader-text\">Cathie Wood loads up on the collapsing Coinbase, grabbing more than 500K shares<\/span> Read More &raquo;<\/a><\/p>\n","protected":false},"author":1,"featured_media":13274,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"default","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[8],"tags":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/1312444407\/image_1312444407.jpg?ssl=1","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"fifu_image_url":"https:\/\/static.seekingalpha.com\/cdn\/s3\/uploads\/getty_images\/1312444407\/image_1312444407.jpg?io=getty-c-w750","_links":{"self":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/13273"}],"collection":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/comments?post=13273"}],"version-history":[{"count":0,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/posts\/13273\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media\/13274"}],"wp:attachment":[{"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/media?parent=13273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/categories?post=13273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/harchi90.com\/wp-json\/wp\/v2\/tags?post=13273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}