Cathie Wood's Fintech ETF Bleeds Assets After 93% Return Last Year [BNN Bloomberg (Canada)]
Coinbase Global, Inc. - Class A (COIN)
US:NASDAQ Investor Relations:
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Company Research
Source: BNN Bloomberg
Despite a 27% rally in its biggest holding, Coinbase Global Inc., spurred by the great crypto revival, the ARK Fintech Innovation ETF (ticker ARKF) is flat this year compared to the S&P 500's 5% gain and the tech-heavy Nasdaq's 3% rise. In turn, day traders have snubbed the actively-managed fund en masse, with the ETF failing to net any inflows on every single day in 2024, with assets under management plunging below $1 billion after notching nearly $5 billion in 2021. It's the last sign that life is getting hard for the famed Wall Street manager known for her eye-catching calls on disruptive technologies of tomorrow. Combined, the fledging performance and net flows are a stark turnaround for the fintech fund, which surged 93% last year to become the second-best performer among Wood's suite of funds. Mainly dragging down the fund are its biggest holdings including UiPath Inc., which is down by more than 20%, as well as Block Inc. and Shopify Inc. Offsetting the losses are Coinbase
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COIN
News
- Coinbase Global, Inc. (NASDAQ: COIN) had its "market outperform" rating re-affirmed by analysts at JMP Securities. They now have a $320.00 price target on the stock.MarketBeat
- Coinbase knocked Q1 earnings out of the park—now comes the hard part [Yahoo! Finance]Yahoo! Finance
- Coinbase's Haas Says ‘Just Another Day in Crypto' After Stock Decline [BNN Bloomberg (Canada)]BNN Bloomberg
- Coinbase Falls Despite Q1 Earnings Beat: ETFs in Focus [Yahoo! Finance]Yahoo! Finance
- Bitcoin's Recent Weakness Is More Tied to Global Markets Than to Anything Crypto Specific, Coinbase Says [Yahoo! Finance]Yahoo! Finance
COIN
Earnings
- 5/2/24 - Beat
COIN
Sec Filings
- 5/3/24 - Form 144
- 5/3/24 - Form 4
- 5/2/24 - Form 4
- COIN's page on the SEC website