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Cathie Wood Dumps 1.4m Shares Of Coinbase As News Of SEC Probe Tanks The Stock

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ValueWalk

Coinbase Global Inc (NASDAQ:COIN) rallied on Wednesday, climbing as much as 5% right out of the gate in a major reversal from Tuesday’s plunge. Three of the funds managed by Cathie Wood‘s ARK Investment Management unloaded more than 1.4 million shares of the crypto exchange on Tuesday. The move followed the news that the company faces a probe by the Securities and Exchange Commission. Cathie Wood Unloads Coinbase StockWood has been bullish on cryptocurrencies and Coinbase for quite some time. ARK snapped up more than 500,000 shares in May but announced Tuesday’s sale of more than 1.4 million s…

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