Posted 2/19/2024, 7:15:00 AM
ARK Sells Nearly $90 Million in Coinbase Stock After Post-Earnings Pop
- ARK sold 499,149 shares of Coinbase worth $90M across its 3 funds on Friday
- The sale came after Coinbase beat Q4 earnings expectations and received analyst upgrades
- Coinbase stock rose 27% last week on strong Q4 results
- Analysts from KBW, Wedbush, Canaccord, and JMP raised their price targets on Coinbase
- However, JPMorgan and Mizuho criticized aspects of Coinbase's business and maintained cautious stances