Cathie Wood Cashes Out: Dumps Roblox (RBLX) & Coinbase Stocks After Epic Rallies
Cathie Wood’s ARK just made its move—selling high on two of tech’s hottest names. Here’s why the timing raises eyebrows.
The Big Unload: Wood’s funds dumped Roblox and Coinbase shares after both stocks ripped double-digit gains this year. Classic 'buy the rumor, sell the news'—or a sign she’s losing faith in the growth darlings?
Crypto Contradiction? Coinbase’s stock surge mirrored Bitcoin’s rally, but Wood’s exit hints even crypto’s loudest cheerleaders take profits. (Funny how Wall Street preaches 'HODL' but never follows it.)
What’s Next: With ARK’s portfolio reshuffling, are we seeing strategic pruning—or the start of a broader retreat from hyper-growth bets? Either way, the move’s a reminder: in markets, even the bulls wear bear costumes sometimes.
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Wood Dumps Roblox Stock
On June 26, Cathie Wood’s ARK Investment sold 247,753 shares of Roblox for approximately $18.77 million, marking a notable reduction in its stake in the gaming platform.
The MOVE likely reflects profit-taking, as Roblox shares have been on a strong run. The stock rose over 2% on Thursday and recently hit a new 52-week high, its highest level since late 2021. The rally has been fueled by growing user engagement, better monetization, and the company’s expansion into immersive digital content. Adding to the bullish outlook, Oppenheimer’s Top analyst, Martin Yang, recently raised his price target on the stock from $80 to $125 while keeping a Buy rating. The firm also sees potential in Roblox’s ad revenue and its ability to win market share from rivals.
What is Roblox Stock’s Price Target?
According to TipRanks, Wall Street has a Moderate Buy consensus rating on RBLX stock, based on 15 Buys, five Holds, and two Sells assigned in the last three months. The average Roblox stock price target of $81.45 implies a 22.43% downside potential.
Wood Offloads Coinbase Stake
Alongside Roblox, ARK Invest also trimmed its position in Coinbase, selling 33,363 shares worth about $11.86 million. The sale likely reflects a mix of profit-taking and portfolio rebalancing as crypto stocks surge.
Coinbase shares jumped 5.5% on Thursday to close at a record $375.07, topping their previous all-time high from November 2021. The rally comes amid rising Optimism over the growing acceptance of cryptocurrencies. Since the Senate passed a key crypto bill last week, the stock has surged over 45%. The strong run has also caught the attention of analysts. Yesterday, Oppenheimer’s Top analyst, Owen Lau, raised his price target on Coinbase from $293 to $395, keeping a Buy rating. He sees the company as a major winner in the broader adoption of blockchain technology.
Is COIN Stock a Good Buy?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on COIN stock based on 13 Buys, 11 Holds, and zero Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average COIN price target of $287.88 per share implies 23.3% downside potential.
