Is Cathie Wood`s ARK fund anticipating a top in the crypto space right now?
On 10/12/2021 ARKK fund sold 5,855 shares of COIN COINBASE GLOBAL INC, for about 1.5Mil usd. When the fund starts a sell, it`s usually a multiple day sell on "small" positions. In this case it was 1.5Mil worth of shares.
The only thing that makes me optimistic right now about Coinbase, is the NFT marketplace.
On Oct. 12 Coinbase NFT was launched, a peer-to-peer marketplace that lets users mint, collect and trade NFTs, or non-fungible tokens.
On the other hand, on 10/14/2021 Devin Ryan from JMP Securities Boosted the Price Target with an Outperform rating from $300.00 to $330.00 This is a one year price target.
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