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Cathie Wood sells $6 million of one of 2024's top stocks

Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' values. Related: Cathie Wood's net worth: The Ar
Cathie Wood, the founder of Ark Invest, has sold approximately $6 million worth of shares in Coinbase Global Inc., one of the top-performing stocks of 2024. This move comes as Coinbase's stock has seen a significant surge, nearly tripling in value year-to-date. Despite this sale, Ark Invest still holds a substantial position in Coinbase, with the stock being a key component of several of its ETFs. The sale reflects Wood's strategy of taking profits on high-flying stocks while maintaining a long-term bullish outlook on the company. This action has sparked discussions among investors about the timing and implications of such a sale in the context of the broader cryptocurrency market dynamics.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/other/cathie-wood-sells-6-million-of-one-of-2024-s-top-stocks/ar-AA1A60kp ]