Cathie Wood missed Nvidia and now she missed Coinbase
Cathie Wood missed Nvidia and now she missed Coinbase
ARKK is an ETF that invests in “disruptive innovation” that could potentially change the way the work works. However, ARKK, and its CEO Cathie Wood, seem to continuously make bad bets and miss the most disruptive and world changing technology time after time.
I told your previously how Cathie Wood sold Nvidia stock before its enormous surge in stock price. How could ARKK and Wood not predict that artificial intelligence would need the chips Nvidia sells?
Recently, Cathie Wood sold 135,000 shares of Coinbase around the time the price hit $90.
On July 13th, a US Judge ruled that Ripple XRP was not a security. This sent Coinbase shares surging to above $110 a share. This strikes a blow to the idea that securities are being traded on exchanges like Coinbase.
Currently Coinbase is fighting the SEC over whether or not crypto assets are securities that would give the SEC jurisdiction to police them.
I would argue that the SEC has refused to work with Coinbase and other firms.
Coinbase is listed as a custodian for several spot Bitcoin ETFs, which is fueling a lot of the its share price appreciation.
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