Cathie Wood’s Ark Invest Takes Profits from circle’s Soaring Stock
Ark Invest, led by Cathie Wood, is cashing in on its early investment in Circle, a stablecoin issuer. The firm recently sold another $44.8 million worth of CRCL shares.This follows a previous sale of $51.7 million just a day earlier.
The sales were spread across three of Ark’s ETFs: ARKK, ARKW, and ARKF. The latest move comes as CRCL stock continues its remarkable post-IPO rally. Since its debut at $31 on June 5,the stock has surged nearly 400%,reaching $165 earlier this week. At press time,CRCL trades at $149.15, down 1.26% in the past 24 hours. However, pre-market data shows a slight rebound to $154.23, up 3.41%. The back-to-back sales suggest Ark is locking in profits. The stock has seen meaningful gains, making it a lucrative opportunity for the investment firm.
Ark has now sold roughly 642,000 shares, trimming its position but still holding a substantial stake. Despite the sales, Ark retains around 3.9 million shares, worth about $575 million. The firm initially bought 4.5 million shares and has now sold a total of 642,000 shares. The sales were spread across its etfs, including 208,654 shares from ARKK, 65,320 from ARKW, and 24,134 from ARKF.The firm’s remaining position is still significant, worth approximately $575 million.
- Ark Invest sold an additional $44.8 million worth of CRCL stock.
Ark invest’s strategy shows a keen eye for timing. the firm is taking profits while the stock is high, ensuring a solid return on its early bet.For more details, check tradingview.
