5 Cathie Wood Stocks Insiders are Selling

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1. Coinbase Global Inc (NASDAQ:COIN)

Cathie Wood’s Stake: $1,172,098,890

Number of Hedge Fund Investors: 41

Coinbase Global Inc (NASDAQ:COIN) is one of the few rewarding investments of Cathie Wood this year, since the stock is up 50% in 2024 through April 23. Yet Coinbase Global Inc’s (NASDAQ:COIN) CEO Brian Armstrong is busy selling Coinbase shares. He sold 250,000 shares of Coinbase Global Inc (NASDAQ:COIN) at $259.87 per share on March 8, leaving no stake in Coinbase Global Inc (NASDAQ:COIN). Coinbase President and COO Emilie Choi also sold 100,000 shares of Coinbase Global Inc (NASDAQ:COIN) at $249.9 per share. Since this transaction Coinbase Global Inc (NASDAQ:COIN) stock is down 8%.

Patient Capital Opportunity Equity Strategy stated the following regarding Coinbase Global, Inc. (NASDAQ:COIN) in its first quarter 2024 investor letter:

“This quarter we benefited from our exposure in the cryptocurrency space. The approval of 11 new spot Bitcoin ETFs dramatically opened Bitcoin to new investors for the first time. Investors’ interest was material, with assets under management growing to $55B over a single quarter. Coinbase Global, Inc. (NASDAQ:COIN) was a beneficiary of these events as we believe it is building the foundation of the crypto-ecosystem. We continue to believe COIN has the potential to be the platform for crypto as it has continued to widen its moat by investing throughout the most recent crypto winter.”

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