Cathie Wood: Selling Coinbase stock is not a "fire sale," but active portfolio management

ChainCatcher news, according to The Block, Cathie Wood participated in an "Ask Me Anything" session on the social platform Reddit on Thursday, where a user inquired about Ark Invest's reasons for "selling" Coinbase stock. Wood responded, "We did not sell. That’s the meaning of active management."

Wood stated, "Since spring 2023, Coinbase has increased by about 9 times, and it has exceeded 10% of the portfolio. We are just taking profits. It is still our largest position, and we are redeploying those profits into stocks that are similarly affected by very short-term news, like Tesla, many of which are in the life sciences sector."