December 7, 2023 10:10 PM | 2 min read
“Finish 2023 Strong With 3 Hot Stock Ideas – Practically Free”
Ready for your shot at the next potential 32%, 39% or 45% gains in today’s market? You’re about to miss Stock Expert Gianni Di Poce’s 3 latest stock ideas… Ones that could shift your entire wealth-building journey. If you’re ready to end 2023 strong with 12 hot stock ideas every single month. ACT FAST.
On Thursday, Cathie Wood-led Ark Invest made a significant move by selling nearly $2.9 million worth of Grayscale Bitcoin Trust (OTC:GBTC) shares. This decision comes amidst a fluctuating crypto market and Ark’s strategic adjustments in their crypto holdings.
Notably, the apex cryptocurrency, Bitcoin (CRYPTO: BTC) was seen trading by nearly 1% at $43,523.72 at the time of publishing. The second-largest coin by market cap, Ethereum (CRYPTO: ETH) was up nearly 6% at $2,382.43. The mixed performance of large cryptocurrencies was attributed to increasing fears of a “bull trap” by traders.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you’ll also get Benzinga’s ultimate morning update AND a free $30 gift card and more!
The GBTC Trade
On Thursday, Ark sold 86,159 units of the Bitcoin Investment Trust. The sale was made through ARK Next Generation Internet ETF (NYSE:ARKW). On the day GBTC closed 2.9% lower at $33.90. The transaction was valued at $2.92 million.
See Also: Ark Invest’s Cathie Wood Says The Price Of One Bitcoin Could Rise To $1.5M
Ark Invest’s sale of GBTC shares aligns with recent market trends and Wood’s views on the evolving cryptocurrency landscape. According to Benzinga’s coverage, Wood has expressed concerns about the impact of a potential Bitcoin ETF on Grayscale’s competitive edge.
“The Best Report Benzinga Has Ever Produced”
Massive returns are possible within this market! For a limited time, get access to the Benzinga Insider Report, usually $47/month, for just $0.99! Discover extremely undervalued stock picks before they skyrocket! Time is running out! Act fast and secure your future wealth at this unbelievable discount! Claim Your $0.99 Offer NOW!
The sale also coincides with Bitcoin’s recent surge past $44,000, as detailed in another Benzinga report, highlighting Ark’s dynamic investment strategy in response to market shifts.
The Robinhood Trade
Ark Invest also offloaded shares of Robinhood Markets Inc (NASDAQ:HOOD), selling 37,151 shares worth $426,493 through ARK Innovation ETF (NYSE:ARKF). This move reflects Ark’s ongoing portfolio adjustments, as discussed in Benzinga’s analysis of Wood’s crypto-related investments.
Other Key Trades:
- Significant purchases included Adaptive Biotechnologies (NASDAQ:ADPT) and Accolade Inc (NASDAQ:ACCD) through ARK Genomic Revolution ETF (BATS:ARKG), indicating a continued interest in the healthcare sector.
- Investments in tech were evident with buys in Trade Desk Inc (NASDAQ:TTD), PagerDuty Inc (NYSE:PD), and Iridium Communications Inc (NASDAQ:IRDM) through multiple ETFs.
Engineered by Benzinga Neuro, Edited by Shivdeep Dhaliwal
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
“Finish 2023 Strong With 3 Hot Stock Ideas – Practically Free”
Ready for your shot at the next potential 32%, 39% or 45% gains in today’s market? You’re about to miss Stock Expert Gianni Di Poce’s 3 latest stock ideas… Ones that could shift your entire wealth-building journey. If you’re ready to end 2023 strong with 12 hot stock ideas every single month. ACT FAST.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Read More: Cathie Wood’s Ark Invest Trims Bitcoin Exposure, Sells $2.9M Worth Of GBTC