ARK Innovation Sells Significant Portion of Coinbase Shares, Netting $5.3M
December 1, 2023
☀️Trending News
It is one of the most popular crypto exchanges, allowing users to buy and sell cryptocurrencies such as Bitcoin and Ethereum. Recently, ARK Investment, a company led by renowned investor Cathie Wood, sold $5.3M worth of shares from Coinbase ($NASDAQ:COIN), netting a significant profit. This shows that ARK is well-positioned to benefit from the continued growth of cryptocurrency markets. The sale of Coinbase shares shows that ARK is taking advantage of the current situation to make sure their portfolio is well-balanced. With growing market volatility, it seems like a smart move to diversify holdings and move away from highly volatile assets.
With all the attention around Coinbase’s public listing, this is an ideal time for ARK to take advantage of the current market conditions. Overall, ARK Investment’s sale of Coinbase shares has been a major success, with the company netting $5.3M and diversifying their portfolio. This is a smart move given the current market volatility and shows that ARK is well-positioned to benefit from the continued growth of cryptocurrency markets.
Stock Price
On Tuesday, ARK Innovation sold a significant portion of their Coinbase Global shares, netting $5.3M. This came as COINBASE GLOBAL stock opened at $122.0 and closed at $128.3, a rise of 7.1% from the previous closing price of 119.8. The move was a smart one for ARK Innovation, as their sale of stock generated a substantial profit from the stock’s increase in value. It is likely that ARK Innovation will continue to monitor the stock’s performance closely, as it could present a great opportunity for future investments. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Coinbase Global. More…
| Total Revenues | Net Income | Net Margin |
| 2.78k | -735.57 | -57.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Coinbase Global. More…
| Operations | Investing | Financing |
| 182.7 | -111.24 | -3.37k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Coinbase Global. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 127.31k | 121.38k | 24.75 |
Key Ratios Snapshot
Some of the financial key ratios for Coinbase Global are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 81.6% | – | -25.0% |
| FCF Margin | ROE | ROA |
| 4.2% | -7.4% | -0.3% |
Analysis
GoodWhale recently conducted research on the fundamentals of COINBASE GLOBAL. Our analysis showed that it is classified as a ‘rhino’ company, meaning it has achieved moderate revenue or earnings growth. This type of company is likely to attract a variety of investors, as it has a high health score of 7/10 when considering its cashflows and debt. The company is strong in terms of growth and profitability, but medium in terms of asset and weak in terms of dividend. COINBASE GLOBAL is capable to pay off debt and fund future operations, making it an attractive investment option for many. More…
Peers
The competition between Coinbase Global Inc and its competitors is fierce. Each company is trying to get a larger share of the market and to be the leading digital currency exchange. Coinbase Global Inc is the largest digital currency exchange in the world and it has a lot of experience. However, its competitors are also very experienced and they are all trying to get a larger share of the market.
– Riot Blockchain Inc ($NASDAQ:RIOT)
Riot Blockchain Inc. is a cryptocurrency mining company that focuses on Bitcoin mining. The company has a market capitalization of $981.09 million and a return on equity of -17.02%. Riot Blockchain Inc. was founded in 2000 and is headquartered in Castle Rock, Colorado.
– Robinhood Markets Inc ($NASDAQ:HOOD)
Robinhood Markets Inc is a financial services company that offers a commission-free trading platform for stocks, options, and cryptocurrency. The company has a market cap of 9.19B as of 2022 and a Return on Equity of -33.37%. Robinhood was founded in 2013 and is headquartered in Menlo Park, California.
– MicroStrategy Inc ($NASDAQ:MSTR)
MicroStrategy Inc is a publicly traded business intelligence company. The company has a market cap of 2.66B as of 2022 and a ROE of -77.69%. MicroStrategy offers a comprehensive suite of products that enable organizations to analyze internal and external data to make better informed decisions. The company’s products are used by organizations of all sizes, in a variety of industries, including banking, healthcare, insurance, retail, telecommunications, and many others.
Summary
Coinbase Global is an online platform for buying and selling cryptocurrencies. The company’s stock price rose recently after Cathie Wood’s ARK Innovation sold $5.3 million of shares in the company. On the other hand, the stock has been volatile due to market fluctuations, as well as fears of regulation and security concerns.
Despite these potential risks, investors remain optimistic about Coinbase’s prospects due to its strong product offering, innovative technology, and global reach. Coinbase is well-positioned to capitalize on the growing demand for digital assets, creating an attractive opportunity for investors.
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