On Thursday, Cathie Wood-led Ark Invest made significant trades involving Tesla Inc. (NASDAQ:TSLA), Coinbase Global Inc. (NASDAQ:COIN), and Brera Holdings PLC (NASDAQ:SLMT).
Ark Invest executed a notable transaction by selling 23,110 shares of Tesla through its ARK Innovation ETF (BATS:ARKK). The sale, valued at approximately $11.2 million, comes amid a backdrop of Tesla’s stock pulling back after reaching all-time highs earlier in the week.
Tesla’s shares have been experiencing volatility, with investors closely watching the company’s autonomous driving advancements.
Don’t Miss:
Despite the recent dip, Tesla’s stock closed at $483.37 on Thursday, marking a 3.45% increase. This movement reflects ongoing market interest, even as Ark adjusts its holdings in the electric vehicle giant.
Ark Invest also made a strategic purchase of Coinbase shares across its ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARK Next Generation Internet ETF (BATS:ARKW) and ARKK. The combined acquisition of 17,386 shares is valued at approximately $4.15 million. This move aligns with Coinbase’s recent announcement of launching traditional stock trading, as detailed in a Benzinga article.
Coinbase announced it would launch commission-free U.S. stock trading with 24-hour access five days a week, expanding beyond its crypto-only roots. The company positioned the move as a step toward becoming a single platform for both digital assets and traditional equities, while laying groundwork for future tokenized stocks. Management said regulatory constraints required starting with conventional stock trading before pursuing blockchain-based equities. The expansion aimed to diversify revenue and reduce dependence on volatile crypto trading cycles.
See Also: Americans With a Financial Plan Can 4X Their Wealth — Get Your Personalized Plan from a CFP Pro
Ark Invest significantly increased its stake in Brera Holdings by purchasing a total of 575,644 shares through its ARKW, ARKF and ARKK ETFs. This acquisition, valued at approximately $1.4 million, follows Brera Holdings’ strategic initiatives, including its Solana (CRYPTO: SOL) treasury strategy, which previously led to a notable stock rally. On Thursday, Brera Holdings’ stock saw a modest rise of 0.84%, closing at $2.39.
