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Celebrity investor Cathie Wood has booked a profit on the huge rally in Coinbase Global stock, with her ETF gaining $150 million worth of shares of the cryptocurrency exchange in the past three days. Sold.
The stock price soared 28.4% in the three-day winning streak that ended on Friday. The stock soared 53.7% in nine days, making eight gains and the biggest nine-day gain in 13 months.
Rally happens as Bitcoin
BTCUSD
Shares have soared 22.5% over the past nine sessions and closed Friday at their highest in more than two years.
Three of Wood’s ETFs (ARK Innovation ETF ARKK, ARK Net Generation Internet ETF ARKW, and ARK Fintech Innovation ETF ARKF) sold a total of 875,979 Coinbase shares during the three-day winning streak.
Based on the closing price on the day the shares were sold, the sale totaled $151.3 million.
On Monday, Coinbase stock fell 2.7% in morning trading, while Bitcoin rose 0.4%.
However, even after the sale, Coinbase remains the largest holder in all three ETFs. In Wood’s flagship ARK Innovation ETF, Coinbase’s weight was 9.57% as of Friday, compared to its second-largest holding, electric vehicle giant Tesla.
TSLA,
8.21%.
Wood’s ETF has purchased a total of 248,787 Tesla shares worth $46.4 million so far in February. Tesla stock fell 1.9% on Monday.
Please also read: Tesla stock had its worst month of the year, but Cathie Wood’s ETF kept buying.
The ETF also sold a total of 480,166 shares of trading app Robinhood Markets.
hood
On Friday, it would be worth about $6.7 million. Robinhood stock has risen 18.2% over the past three sessions and closed at a two-year high on Friday.
This is more than just canceling all the shares the ETF had previously purchased in February. In the days ending Feb. 13, the ETF purchased a total of 411,117 shares, worth about $4.5 million.
Robinhood stock rose 0.8% in morning trading Monday.
Separately, the ETF sold a total of 27,661 shares of Nvidia Inc.
NVDA
The value of the shares sold was approximately $19.9 million.
Nvidia stock fell 2.7% on Monday, putting the company in danger of falling for the first three days in a row since the three-day session that ended Dec. 4. Semiconductor and artificial intelligence companies are scheduled to report fourth-quarter results after the closing bell on Wednesday.
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