In a stunning turn of events, Cathie Wood’s Ark Invest has sold off yet another $44.76 million worth of Circle (CRCL) shares, barely a day after unloading a hefty $51.7 million. Talk about a dramatic exit! Despite this whirlwind of sell-offs, Circle’s stock is holding its ground, well above its IPO price of $31. The stock is acting like that one friend who insists on staying calm even when the house is on fire.
According to Ark’s daily trading report (because, apparently, someone’s keeping track of all these transactions), three of Ark’s ETFs trimmed their Circle holdings on Tuesday. The ARK Innovation ETF (ARKK) said goodbye to 208,654 shares, the ARK Next Generation Internet ETF (ARKW) parted ways with 65,320 shares, and the ARK Fintech Innovation ETF (ARKF) dropped a measly 26,134 shares. Oh, the drama!
Circle’s stock closed 1.26% lower at $149.15 on Tuesday, but wait for it… it bounced back with a 2.84% gain in after-hours trading. You can almost hear Circle’s stock whispering, “Is that all you got, Ark?” Despite the back-to-back sales, it has still quadrupled in value since its IPO earlier this month. Talk about resilience!
Now, Ark’s bold move doesn’t come out of the blue. Let’s not forget that Ark had previously purchased $373.4 million worth of Circle shares when the stablecoin firm first made its debut on the New York Stock Exchange. Looks like Ark’s just cashing in some of that sweet profit, and who can blame them? After all, why not sell a few million dollars worth of stock when you’re swimming in gains?
Meanwhile, traders are keeping an eye on Circle’s response to the GENIUS Act. The U.S. Senate recently passed this game-changing stablecoin bill, and now it’s up to the House of Representatives to make their move. With regulatory clarity on the horizon, investors are licking their lips at the prospect of stablecoin stocks like Circle getting even more attention. Oh, the suspense!
Ark may have raised a few eyebrows with its actions, but don’t worry, Circle’s momentum is still chugging along like a freight train that’s just too stubborn to stop.
Read More
- How Angel Studios Is Spreading the Gospel of “Faith-Friendly” Cinema
- Hero Tale best builds – One for melee, one for ranged characters
- Gold Rate Forecast
- Comparing the Switch 2’s Battery Life to Other Handheld Consoles
- Castle Duels tier list – Best Legendary and Epic cards
- EUR CNY PREDICTION
- Mini Heroes Magic Throne tier list
- 9 Most Underrated Jeff Goldblum Movies
- Kendrick Lamar Earned The Most No. 1 Hits on The Billboard Hot 100 in 2024
- EUR NZD PREDICTION
2025-06-18 10:25