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ARK buys another $64 mln in Coinbase shares, sells $99.5 mln of Tesla shares

ARK buys another $64 mln in Coinbase shares, sells $99.5 mln of Tesla shares

4/17/2021 7:25:00 AM

ARK buys another $64 mln in Coinbase shares, sells $99.5 mln of Tesla shares

Cathie Wood’s ARK funds bought more shares of cryptocurrency exchange Coinbase Global Inc (COIN.O) on Friday while selling shares of electric carmaker Tesla (TSLA.O), according to the firm's daily trade summary.

ARK sold the Tesla shares from its flagship fund and its Next Generation Internet ETF.The bet on Coinbase gives ARK more indirect exposure to cryptocurrencies on top of its big bets on the likes of Tesla, which recently invested in bitcoin and said it would accept the cryptocurrency as payment for its cars.

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Celebrity fund manager Wood gained prominence last year among retail investors and managed to attract a steady pile of cash into her red-hot funds. Read more: Reuters Top News »

Watch these UK commandos fly over the sea with new jet pack - CNN Video

The British Royal Navy and Royal Marines tested out a jet suit developed by the company Gravity Industries. Gravity says its suit can fly up to 80 mph and climb to 12,000 feet in the air.