Cathie Wood s Ark buys into Coinbase, sells a bit of Tesla
By Thyagaraju Adinarayan
Reuters
LONDON (Reuters) - Cathie Wood s Ark funds bought $246 million worth of Coinbase shares on the cryptocurrency exchange s Nasdaq debut on Wednesday and sold some Tesla shares, according to their daily fund trading summary.
A chunky $168 million of Coinbase shares were added to its flagship ARK Innovation fund, and the remainder went into its next generation and fintech innovation funds.
Notably, one of Wood s funds sold a $4.4 million stake in New York Stock Exchange owner Intercontinental Exchange.
Coinbase shares were up 11% in U.S. premarket trading on Thursday, after having risen 52% on their debut on Nasdaq, giving it a market capitalisation of close to $100 billion, well above ICE and other traditional exchange operators.
In a bid to become ‘a high-quality advice provider’ after its ‘brutal’ restructure
On joining WH Ireland in March 2019, Stephen Ford was forced to make some quick but important decisions.
The wealth manager and corporate broker firm had been haemorrhaging cash and at the end of that month, posted a £12m ($16.78m, €13.87m) loss for the year. Swift action was necessary.
Almost two years later, the firm is on a better footing.
A year after Ford joined as head of wealth management, losses had shrunk to £3m and in October last year, it posted its first half-year profit for five years. For the six months to the end of September, WH Ireland made £500,000 profit, compared with a £910,000 loss for the same period in 2019.
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Publishing date: Feb 27, 2021 • February 27, 2021 • 4 minute read •
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(Bloomberg) With Europe’s results season wrapping up, the main takeaway has been not the broadest earnings beat in about 14 years, but rather a dearth of guidance from many companies on a still uncertain future.
Only about 55% of firms reporting over the past six weeks have offered some form of guidance, according to Bloomberg Intelligence data, reflecting low visibility over when and how quickly economies will rebound after the roll-out of Covid-19 vaccines. Those giving no outlook saw an average share-price drop of 1.6% on the day of their results versus the Stoxx 600 Index, the data show.