ARK sells $27m Tesla stock, buys Coinbase
ARK Investment Management’s Cathy Wood sells off $26.84 million of Tesla (TSLA) stock, at a closing price of $192.22, buying shares of Coinbase (COIN) instead. For a total of 139,642 TSLA shares, Wood’s firm sold 119,630 from its ARK Innovation ETF (ARKK) and 20,012 from the ARK Next Generation Internet ETF (ARKW).
ARK buys more Tesla stock
ARK buys 69,356 Tesla shares, adding to the 1.3 million shares the firm purchased in December and January. This latest purchase adds about $12.6 million to ARK’s holdings in the electric vehicle company, based on the stock’s (TSLA) current market value.