From Nasdaq:

Cathie Wood-led Ark Invest sold 162,762 shares of Coinbase following the company’s announcement of a surprise profit in their Q4 results. On the same day, Coinbase saw a significant uptick in valuations for cryptocurrencies, such as Bitcoin, and the “Coinbase Premium Index” reached its highest level in almost a year.

In addition to selling Coinbase shares, Ark Invest also sold shares of Nvidia Corporation and Alphabet Inc, both significant players in the AI sector. Nvidia is now the world’s fourth most valuable company, and Alphabet’s shares traded lower following news of OpenAI’s plans to launch a web search tool, potentially challenging Google’s dominance.

Ark Invest made significant moves in its portfolio, buying shares of Unity Software Inc and increasing its investment in 10X Genomics Inc. Meanwhile, they sold shares of Twilio Inc and Zoom Video Communications, reflecting a shift away from pandemic-driven companies.

These decisions by Cathie Wood-led Ark Invest reflect their strategic adjustments to their portfolio based on performance and growth potential in various sectors, including cryptocurrency, AI, and software development.



Read more: Cathie Wood’s Ark Sells Coinbase Shares Amid Bitcoin Rally Despite Surprise Quarterly Profit — Nvidia, Alphabet Stocks Also Shed