10 Firms Mirror Wall Street Decline

6. Coinbase Global Inc. (NASDAQ:COIN)

Shares in Coinbase Global Inc. declined by 8.14 percent or $23.43 on Tuesday to close at $264.33 apiece after Cathie Wood’s asset management firm Ark Invest sold 3,769 shares for a total of $1.08 million.

According to reports, the sell-off was due to the lack of bounce back in the company’s stock performance.

Investors were also waiting on the sidelines for updates on an ongoing legal case between the company and the Securities and Exchange Commission ahead of the inauguration of the Trump administration.

The US SEC filed a lawsuit against Coinbase in 2023 alleging that the crypto exchange has been facilitating unlawful trading of at least 13 digital assets, which ought to be registered as securities.