Ark Invest buys $18 million worth of Coinbase shares, offloads $29 million in Robinhood
The Block·
60-second summary
Ark Invest is buying $18 million worth of Coinbase shares, a significant move amidst the company's 2.57% stock decline to $164.92 on Wednesday. Meanwhile, Ark Invest offloaded $29 million worth of Robinhood shares, as the latter's stock rose 8.78%. This strategic shift highlights Ark Invest's market confidence in Coinbase over Robinhood.
The trades came as Coinbase's stock closed down 2.57% at $164.92 on Wednesday, while Robinhood gained 8.78%.