The second largest Coinbase stock sale of 2023 was led by Ark Invest. The volume of securities sales amounted to $49.2 million. By the start of trading on December 11, the COIN rate had decreased by more than 4%.
On December 8, 2023, Ark Invest sold a total of 335,860 Coinbase shares from three funds - ARKW, ARKK and ARKF. The sale brought the company $49.2 million.
The shares were sold at a price of $146.4. Note that at the time of writing this position is trading at $140.22. The stock is down more than 4% in the last 24 hours, according to MarketWatch:
Notably, this sale of shares by Ark Invest is the second largest in 2023. The previous one was in July.
Then the company sold shares for $53 million at a price of $110.7. Let us remind you that since the beginning of 2023, the rate of this position has increased from $33.6 to $140.22 at the time of writing.
Ark Invest had another sale this month on December 6, 2023. In total, over the past week, from December 4 to December 11, the company sold $73.5 million in Coinbase shares.
