ARK Invest reduces position to $150 million this month as Coinbase stock hits 20-month high

Since December 5, ARK Invest has sold over $150 million worth of Coinbase shares (COIN). On Wednesday, COIN rose more than 7.7%, surpassing $150 for the first time since April 2022. Despite recent ongoing reductions, Coinbase still accounts for over 10% of ARK’s portfolio and occupies the top spot on its top ten holdings list. Coinbase shares have risen 325% so far this year, far outpacing the best-performing company in the S&P 500 and technology giant NVIDIA, which has risen 226% for the year. According to some observers, Coinbase stock could rise to $200 in the coming months. (CoinDesk) It was reported earlier today that Cathie Wood’s ARK Invest continued to reduce its holdings of Coinbase shares on December 13, selling a total of 283,104 shares worth approximately US$42.59 million.