Ark Invest sold approximately $41 million worth of Meta stock and over $26 million worth of Nvidia stock on Thursday. In addition, the company sold approximately $11 million of its own Bitcoin ETF (ARKB) shares, approximately $6.5 million worth of stock in the crypto exchange Bullish, and nearly $5 million worth of stock in Block, a company owned by Jack Dorsey. Ark Invest also reduced its holdings in Alphabet stock by approximately $2.5 million and AMD stock by approximately $7.5 million. Meta's stock price has fallen more than 17% over the past month to approximately $531, including a drop of about 10% in the past week, after the platform lost two lawsuits related to social media addiction. Nvidia's stock price has fallen about 5% over the past month while facing a class-action lawsuit regarding discrepancies in crypto mining revenue. Bitcoin fell about 4.8% in the past 24 hours to approximately $66,020, briefly dipping below $66,000, its lowest level since March 2nd. Following the sell-off, Ark Invest holds approximately $100 million in ARKB, making it the 35th largest holding among its actively managed ETFs. Cathie Wood had previously predicted that Bitcoin could reach $1.2 million per coin by 2030.
Alex
