Cathie Wood's Ark Invest Continues To Shed Coinbase, Nvidia Shares

Benzinga Neuro

April 15, 2024

On Monday, Cathie Wood-led Ark Invest made significant trades involving Coinbase Global Inc. (NASDAQ:COIN) and NVIDIA Corp. (NASDAQ:NVDA).

The COIN Trade

Ark Invest decided to offload 3,689 shares of Coinbase from its ARK Next Generation Internet ETF (NYSE:ARKW) fund. The value of the sold COIN shares, based on the closing price of $223.41 on Monday, amounts to approximately $824,000.

Last week, despite a recent rise in Bitcoin (CRYPTO: BTC) prices, Ark Invest sold a significant amount of Coinbase shares, with back-to-back trades on certain days.

The NVDA Trade

Ark Invest also reduced its stake in NVIDIA Corp. from its ARK Genomic Revolution ETF (BATS:ARKG) fund by 157 units. The value of the sold Nvidia shares, based on the closing price of $860.01 on Monday, is approximately $135,000. This move comes despite a recent bullish prediction by a chart analyst, who suggested that NVIDIA is poised for another upward move.

Other Key Trades:

Ark Invest bought shares of Teladoc Health Inc (NYSE:TDOC) across its ARKF, ARKG, and ARKK funds. Shares of UiPath Inc (NYSE:PATH) were sold from the ARKG fund.
The ARKK fund saw a purchase of shares from Roku Inc (NASDAQ:ROKU) and a sale of Draftkings Inc (NASDAQ:DKNG) shares.
ARKW fund sold shares of Twilio Inc (NYSE:TWLO).

Read Next: Dogecoin Co-Creator Billy Markus Sarcastically Signals Caution Amid Cryptocurrency Market Crash: ‘Oh No Everything Died We Are Dead’

Engineered by Benzinga Neuro, Edited by Shivdeep Dhaliwal

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Recommended

Is This Nvidia's Secret Weapon? - Ad

The No. 1 Crypto for 2024 - Ad

Nvidia's Secret Partner... This Is the New AI Chip Powerhouse - Ad

Israel insists that the strike on Rafah is necessary to counter the numerous Hamas fighters allegedly located there.

TikTok to start labeling AI-generated content as technology becomes more universal

TikTok will begin labeling content created using artificial intelligence when it's uploaded from outside its own platform.

"If I Had To Pour Every Single Penny of My Retirement Into Just ONE STOCK..."

"If I Had To Pour Every Single Penny of My Retirement Into Just ONE STOCK..." - Ad

The former Goldman Sachs VP -- who called everything from Microsoft's 1,100% surge... to the death of the 60/40 portfolio -- is now stepping forward with his most explicit message yet: "Make this ONE STOCK the cornerstone of your portfolio."

Trump Meets With DeSantis, Noem Stirs Up Controversy: How Will Republican Vice President Betting Odds Be Impacted?

The relationship between Donald Trump and Ron DeSantis was heated at times during the Republican primary season, before the Florida governor dropped out of the 2024 presidential election and threw his support behind the

US weekly jobless claims hit highest level since August of 2023, though job market is still hot

The number of Americans applying for unemployment benefits jumped to its highest level in more than eight months last week, another indication that the red hot U.S. labor market may be softening.

A.I. Pioneer Issues Urgent Warning to Americans

A.I. Pioneer Issues Urgent Warning to Americans - Ad

According to one early A.I. pioneer: "You can either use this as an unfair advantage to grow your wealth, or you can let it ravage your retirement savings. There's no middle option."

Chinese EV Startup Nio's Stock Jumps Premarket Amid Weak Stock Futures: What's Going On?

The premium EV manufacturer confirmed on Thursday that its subsidiary brand "ONVO" will make its global debut on May 15.

Top 3 Real Estate Stocks That Are Set To Fly

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down.

Election Shock on August 19th?

Election Shock on August 19th? - Ad

In less than 258 days, I expect the biggest presidential election shock since 1968. Forget about Donald Trump... And forget about Joe Biden... Instead, I believe the unexpected is barreling toward America. And I believe the aftermath will transform this country forever.

Influencers Barred From Promoting Betting And Narcotics Under New Spanish Law

By Lucía Tedesco via El Planteo, adapted for Benzinga.

Colorado-based abortion fund sees rising demand. Many are from Texas, where procedure is restricted

DENVER (AP) — A Colorado abortion fund said Thursday it’s helped hundreds access abortion in the first months of 2024, many arriving from Texas where abortion is restricted, showing a steady increase in need each year since in 2022.

The Man Who Bought Bitcoin at $5 Reveals His Next Tiny Crypto Gem for 2024

The Man Who Bought Bitcoin at $5 Reveals His Next Tiny Crypto Gem for 2024 - Ad

Early Bitcoin Millionaire Charlie Shrem just revealed his five little-known crypto coins that he believes could create generational wealth over the next 12 months. What's more, some of these tiny cryptos he's discovered trade for less than $1!

South Carolina Senate turns wide-ranging energy bill into resolution supporting more power

COLUMBIA, S.C. (AP) — A bill that power companies call vital to in South Carolina has been turned into a resolution that only expresses support for the idea by the Senate, which wasn't ready to give more latitude to utilities that cost ratepayers billions.

Elon Musk Shares Who He'd Want To Spend His Last Moments With In Response To Warren Buffett's Advice

Over the weekend, Elon Musk agreed with a sentiment shared by investment titan Warren Buffett about the importance of spending time with loved ones, despite their contrasting investment philosophies.

The New Financial Threat That Could Wipe out Millions...

The New Financial Threat That Could Wipe out Millions... - Ad

If you're worried about repeating the mistake that so many made during the dot-com boom...You need to watch this urgent video. During this market shakeout, many of today's high-flying AI stocks are going to crash and burn like countless internet stocks did in 2000.

Federal Judge Indefinitely Postpones Donald Trump's Classified Documents Trial

The trial of ex-President Donald Trump for retaining classified documents has been postponed indefinitely by a federal judge.

Why Is Apple Stock Soaring Premarket Today?

Apple shares appear on track to reclaim the $180 level for the first time since the start of March after quarterly earnings.

READ THIS If You Missed Out on the AI Boom

READ THIS If You Missed Out on the AI Boom - Ad

Radical new biotechnology predicted to grow 320,000% in 3 years. Nvidia's CEO calls it "the next amazing revolution." And one small company poised to dominate this revolution trades for just $10.

Why Rivian Stock Is Charging Up Premarket Today

Ahead of a crucial earnings report, Rivian shares have taken off, although the upward move could be due to a reason unrelated to earnings.

Lilly rides Mounjaro, Zepbound to better-than-expected 1Q profit despite supply issues

Rapidly climbing sales of the and its counterpart for diabetes, Mounjaro, pushed Eli Lilly to a better-than-expected first-quarter profit.

Uranium Prices Soar 74% in 6 Months! The Uranium Bull Market Is Here to Stay!

Uranium Prices Soar 74% in 6 Months! The Uranium Bull Market Is Here to Stay! - Ad

In December 2023, 22 countries pledged to 3X their nuclear capacity. Sending these uranium stocks into a frenzy.

Courtroom Appearances By These Two Members Of Donald Trump's Family Could Help Him In Hush-Money Trial, Say Experts

As former President Donald Trump faces a hush-money trial, legal experts suggest that the presence of his wife, former First Lady Melania Trump, and daughter, Ivanka Trump, could significantly influence t

Palantir, Boeing, Lucid Group, Hims & Hers, Tesla: Why These 5 Stocks Are On Investors' Radars Today

On Monday, major U.S. stock indexes experienced gains, with the S&P500 closing nearly 1% higher at 5,180.74

The Next Nvidia?

The Next Nvidia? - Ad

Wall Street legend has just uncovered one tiny Maryland company that could become the next Nvidia. Few in the media are talking about this story yet...but in the next 6 months that's all they'll talk about.

Warner Bros. Discovery CEO Optimistic In the Wake Of NBA Rights Tug-Of-War: Report

Amid heated competition from Comcast's NBCUniversal and Amazon Prime Video, Warner's TNT faces a pivotal moment in negotiations with the NBA, poised to secure rights that could reshape its sports lineup and revenue streams.

Voters Reveal Whether They Feel Donald Trump Is Receiving Fair Treatment In Court In Latest Poll â€” What That Means For Former President's Election Chances

Amid Donald Trump's trial, a sharp national divide has arisen, with only 13% seeing fair treatment.

Must-See: Elon's New Invention is Absolutely Insane

Must-See: Elon's New Invention is Absolutely Insane - Ad

When you click here and see what Elon Musk's new invention does... And how it works... You will NOT believe it. You'll tell yourself this is just science fiction. But Elon just tested this in a real human... And the result was mind-blowing.

Apple Q2 Earnings Beat Muted Forecast On Services, Mac Strength: Installed Base At Fresh Record, Cupertino Announces Massive $110B Buyback (UPDATED)

Apple rounds off the Magnificent Seven earnings of the week, with the tech giant managing to surpass a lowered bar.

Angel Reese, Cardoso debuts watched widely on fan's livestream after WNBA is unable to broadcast

The WNBA debuts of Angel Reese and Kamilla Cardoso were widely watched on a social media who stepped in when the league's app couldn't broadcast the game.

What Should You Be Doing To "A.I.-Proof" Your Retirement?

What Should You Be Doing To "A.I.-Proof" Your Retirement? - Ad

A.I. is creeping into every aspect of our daily lives... According to billion-dollar fund manager Louis Navellier, it's never been more important to A.I.-proof your wealth. He lays out three simple steps to take ASAP in his latest video.

Edmunds: Trade or sell your car? What's best might surprise you

There’s never been a more critical time to know whether it’s better to sell your car privately or trade it in.

Russian President Warns Of Global Conflict During World War 2 Victory Day Celebrations, But Says 'Will Do Everything' To Prevent Clash

As Russia marked the 79th anniversary of the Soviet Union's victory over Nazi Germany in World War II, President Vladimir Putin warned the West of the potential for a global conflict.

Elon Musk Humiliated

Elon Musk Humiliated - Ad

Since Jeff Bezos and Elon Musk first met in 2004 -- they've been involved in a bitter feud... from rockets, to electric vehicles to who's the world richest person...for going on two decades these two have been at each others throats... But what happened on December 31st 2021 just took this rivalry to a new level and humiliated Elon Musk.

Why Sprout Social Shares Got Crushed Friday

Shares of Sprout Social fell Friday after reporting first-quarter financial results Thursday and sharing Q2 guidance.Cloud software company Sprout Social (NASDAQ:SPT) saw shared fell 40% Friday after reporting first-quarter financial results Thursday.

Nvidia's AI Dominance Evident As Tech Behemoths From Microsoft To Meta And Google Keep Pumping Billions Into Chipmaker, Analysis Reveals

Nvidia is set to release its first-quarter earnings, and the company is already making waves in the AI sector. The tech giant's AI infrastructure is in high demand, as evidenced by the increased capital expenditures of its major clients.

The No. 1 Crypto for 2024

The No. 1 Crypto for 2024 - Ad

We're entering the final crypto bull run, and 2024 will be your last chance to ever get rich from crypto. These five tiny cryptos are believed to create generational wealth over the next 12 months. $30 trillion is poised to funnel into the crypto markets thanks to a new government regulation just signed.

Netflix Stock Sized Up By 7 Analysts Post Q1 Results: 'Pivot From A High-Growth, Low-Profit Business To A Slow-Growth, High-Profit Business'

Streaming leader Netflix reported first quarter financial results that were higher than estimates. The company's outlook and decision to stop reporting subscriber figures are weighing on analysts.

Asia Up, Europe Mixed, While Yen Surges Against Dollar - Global Markets Today While US Slept

US stock markets closed higher, driven by strong earnings and mild inflation data. Asian markets also gained, while eurozone and oil prices dipped.

Elon's New A.I. Device is About to Shock the World

Elon's New A.I. Device is About to Shock the World - Ad

Using this device you see... Elon Musk just tested a new type of A.I. that according to Wired Magazine will usher in... "The next step in human evolution."

Elon Musk Debunks Tucker Carlson's Alien Theory, SCOTUS On Trump's Immunity, North Korea's Military Pledge And More: This Week In Politics

The week was filled with intriguing stories, from Elon Musk's dismissal of alien theories to the U.S. Supreme Court's deliberation on former President Donald Trump's immunity claims.