Coinbase Stock Has Nearly Tripled This Year -- and Cathie Wood Just Sold $12 Million of It
Superstar investor Cathie Wood just sold shares of one of her favorite stocks: Coinbase Global (NASDAQ: COIN). The cryptocurrency exchange platform has seen its shares almost triple year to date as cryptocurrencies rebounded. Crypto market value has reached about $1.2 trillion, up from a low of less than $800 billion earlier this year.
Coinbase is now the third-biggest holding in Wood's flagship Ark Innovation ETF (NYSEMKT: ARKK) -- it was the second-largest prior to the sale. Does this recent move mean she's losing faith in the company?
I wouldn't bet on that. Wood is known to lock in profit here and there when some of her favorite stocks rise. After all, she owns significant stakes in them, so she can afford to do so -- and still maintain her exposure to these companies.
Source Fool.com
Coinbase Global Inc. Stock
Currently there is a rather positive sentiment for Coinbase Global Inc. with 31 Buy predictions and 16 Sell predictions.
On the other hand, the target price of 136 € is below the current price of 236.5 € for Coinbase Global Inc., so the potential is actually -42.49%.
