Cathie Wood’s Flagship Innovation Fund exits China Amid Economic Slowdown
Cathie Wood, the CEO of Ark Invest, has announced that her flagship innovation fund has completely exited China due to the country’s economic slowdown. The Ark Innovation ETF, which manages nearly $9 billion in assets, has divested from stocks generating revenue from China. This strategic move is part of a broader consolidation of the fund’s portfolio towards high-conviction bets such as Tesla, Coinbase, Roku, and Zoom, particularly during the market downturn.
Grayscale Bitcoin Trust among top performers at ARK Invest in Q2 2023
Grayscale Bitcoin Trust (GBTC) was among the top performers at Cathie Wood's ARK Invest in Q2 2023, contributing to the success of its ARK Next Generation Internet exchange-traded fund (ARKW).
Cathie Wood’s Ark Invest Sells $53 Million In Coinbase Shares, Buys Meta and Robinhood
Cathie Wood's Ark Invest has sold some of its Coinbase shares as the stock price hit a yearly high, marking the second time this week that the firm has offloaded some of its holdings. The sale amounted to 478,356 shares worth $53 million. Meanwhile, Ark Invest has purchased shares in Meta Platforms and Robinhood Markets.
Cathie Wood Misses Out On Coinbase's 25% Rally After Dumping $12M Worth of COIN Shares
Cathie Wood's Ark Invest has sold some of its Coinbase shares, but still holds 4.3% of the total shares. The price of Coinbase stock has been on a constant rally, reaching its highest level since last August.
Ark Invest Report Shows Growing Support and Improved Institutional Sentiment for Bitcoin
Asset management firm Ark Invest has reported growing support from strong holders and improved institutional sentiment towards bitcoin. Nearly 70% of the circulating supply of bitcoin has not been moved for at least a year, indicating a strengthening holder base and the confidence of long-term investors.
Ark Invest Embraces Crypto: Bets on Coinbase and Robinhood Over Tesla
June 24 (Cointime) - Ark Invest has decreased its investment in Tesla while increasing its investment in crypto stocks, particularly Coinbase and Robinhood.
Ark Invest Sells $8.6 Million Worth of Tesla Shares Ahead of Elon Musk's Meeting with Indian PM Modi
June 21 (Cointime) - Ark Invest, led by Cathie Wood, sold 31,500 Tesla shares worth $8.6 million a day before Elon Musk's meeting with the Indian Prime Minister as the company looks to invest in the Asian country.
Cathie Wood's Ark Invest Buys Millions in Block Inc (SQ) Shares, Reiterates Bullish Stance on Coinbase and Bitcoin
Cathie Wood's Ark Invest funds have purchased millions of shares in Jack Dorsey's payment firm Square Inc (SQ) and Coinbase (COIN). Wood remains bullish on Bitcoin, reiterating her $1 million target price by 2030 and explaining that the regulatory hurdles faced by Binance will benefit Coinbase.
Cathie Wood: Binance Legal Woes Good for Coinbase
According to Bloomberg, Ark Invest CEO Cathie Wood said in an interview that Coinbase will benefit from Binance legal problems in the U.S. because it will eliminate its main competitor. Wood said, "Coinbase has not been accused of any criminal activity. The definition of securities and pledges are two issues that both Coinbase and According face, but most of the other issues regarding According are not relevant to Coinbase."
Ark Invest’s Cathie Wood Justifies Exit From Nvidia Due to Stretched Valuations
Cathie Wood, the manager of the ARK Innovation ETF, has justified her fund's exit from Nvidia earlier this year, stating that the chipmaker has been priced "ahead of the curve". Nvidia's stock has more than doubled since ARKK exited in January 2023, and is now trading at 25 times the estimated sales for the current financial year. However, some analysts believe that the outlook for chips isn't quite picking up yet amid tepid demand for consumer electronics. Nvidia's co-founder, Jensen Huang, recently unveiled a number of AI products at the Computex trade show, including an AI supercomputer platform called DGX GH200.
