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ARK Invest Sold $14.8 Million Worth of Coinbase Stock Ahead of Coinbase Q2 Earnings
2024-08-02 09:13:32
Odaily News Cathie Wood's investment firm ARK Invest sold $14.8 million worth of cryptocurrency exchange Coinbase (COIN) shares on Thursday, the largest single-day withdrawal since May 7 before the exchange released its second-quarter earnings report. The withdrawal means that the company sold more Coinbase shares on the first day of August than the previous two months combined. In June and July, $2.88 million and $7.93 million of stock were sold, respectively. Earlier news, Coinbase (COIN) announced second-quarter revenue that slightly exceeded Wall Street analysts' expectations. Coinbase's total revenue in the second quarter was $1.45 billion, higher than FactSet's estimate of approximately $1.4 billion. (Coindesk)