Cathie Wood's Unusual Crypto Moves: Buys Circle, Sells Coinbase
made some unusual cryptocurrency trades on June 5. The ace hedge fund manager tapped into the newly listed shares of stablecoin issuer Circle Internet Group (CRCL) and sold stock in crypto exchange platform Coinbase Global (COIN). Wood is known for making long-term bets on disruptive sectors and growth stocks, so her new interest in Circle Internet comes as no surprise.
Confident Investing Starts Here:
Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Wood's other notable trades on Thursday included the sale of roughly $18 million worth of Robinhood (HOOD) stock, the sale of $25 million worth of Roblox (RBLX) stock, and smaller sales of Meta Platforms (META), Palantir Technologies (PLTR), and Block (XYZ).
Wood Taps into Circle Internet Stock
Circle Internet Group stock skyrocketed by 235% on its first day of trading on the New York Stock Exchange. Ark Invest bought CRCL stock through three different ARK ETFs, totaling a massive $139 million. Wood's interest in Circle Internet suggests growing confidence in the broader crypto market, particularly in stablecoin-related assets.
The Ark Innovation ETF (ARKK) bought 3,025,089 shares of Circle, while the Ark Next Generation Internet ETF (ARKW) acquired 927,318 shares, and the ARK Fintech Innovation ETF (ARKF) purchased 534,153 shares of CRCL. These purchases reflect Wood's strong conviction in the world's second-largest stablecoin issuer.
ARK Trims its Coinbase Position
Wood made a significant reduction in Coinbase Global holdings across Ark ETFs, selling a cumulative 161,304 COIN stock yesterday. The ARKK ETF sold 101,037 shares, the ARKW ETF reduced its Coinbase stake by 6,882 shares, and the ARKF ETF sold 53,385 shares of the exchange. These trades totaled $41 million, reflecting a continued reduction in ARK's position in Coinbase Global.
Is COIN Stock Worth Buying?
Analysts remain divided on Coinbase Global's long-term stock trajectory. On TipRanks, COIN stock has a Moderate Buy consensus rating based on 11 Buys versus 11 Hold ratings. Also, the average Coinbase Global price target of $263 implies 7.7% upside potential from current levels. Year-to-date, COIN stock has lost 1.7%.
See more COIN analyst ratings
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CTV News
an hour ago
- CTV News
G7 summit could continue ‘harmonization' between Canada, U.S. amid trade war
G7 summit could continue 'harmonization' between Canada, U.S. amid trade war Former U.S. Ambassador to Canada Gordon Griffin says U.S. tariffs between will be the 'elephant in room' as both sides have a chance to ease trade tensions.
Globe and Mail
an hour ago
- Globe and Mail
Where Will Walmart Stock Be in 3 Years?
When most investors are thinking about buying a particular stock, they'll start by looking at the underlying company's recent fiscal results. And to be fair, it's a sound approach. Although past performance is no guarantee of future results, that past gives us a reasonably good idea of what the future likely holds. Still, sometimes we need to dig deeper and examine the qualitative things a company is doing that could alter its quantitative future. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » With that as the backdrop, although there's not much unpredictability with its business, Walmart (NYSE: WMT) and its stock are apt to be somewhere pleasantly surprising in the next three years. Here's why. Meet the new-and-improving Walmart Walmart is the world's biggest brick-and-mortar retailer, with 90% of U.S. residents living within 10 miles of one of its 4,600 domestic namesake stores, or one of its 600 Sam's Club warehouses. There are almost 5,600 other locations outside of the United States as well. Last year this giant of a company did $681 billion worth of business, turning $19.4 billion of that into after-tax net income, and extending long-standing (even if occasionally bent and sometimes slow) growth trends. And yes, those numbers confirm the retailer continues to dominate at least North America's general merchandise and grocery retailing landscapes. But the Walmart of yesteryear -- and even the Walmart of today -- isn't quite the Walmart you can expect come 2028. There are several initiatives underway right now that should be measurably more mature three years from now, each of which could make a positive impact on its top and bottom lines. One of these initiatives is its nascent online advertising business. If you ever shop at then you've seen advertisements, probably without even giving it a second thought. Every website runs ads these days, after all. Except, Walmart isn't simply hoping to prompt you into making a purchase of something it's selling. Brands are paying Walmart to promote their particular goods online with these ads. The retailer did $4.4 billion worth of this high-margin advertising business, in fact, up 27% year over year, and bolstering the bottom line for an e-commerce platform Walmart was going to operate anyway. This still only scratches the surface of the opportunity, though. With an ever-growing amount of insight as to what works and what doesn't, this advertising revenue's growth accelerated to a pace of 31% year over year during the first quarter of this year. While it's not clear exactly where the ceiling is for this business, eMarketer expects average annualized growth of 17.2% for the United States' entire retail media (digital advertising at retailers' e-commerce sites) business. That outlook bodes very well for long-term ad business growth. The mega-retailer isn't just looking to the U.S. as a growth engine, however. Indeed, Walmart seemingly understands that it's running out of places within the United States to establish profitable brick-and-mortar stores, having closed 11 of them last year. There's opportunity abroad, and the company is capitalizing on it more than you might realize. In 2023, management announced its goal to grow its international revenue from around $100 billion per year then to $200 billion annually by 2028. After last year's reported tally of $121.9 billion, that target doesn't seem so crazy after all. Finally, while most investors can acknowledge Walmart has done the unthinkable by building a respectably sized e-commerce business in a market that's dominated by Amazon (NASDAQ: AMZN), they may be underestimating just how well it's doing online. Although the company itself doesn't disclose the specifics, consensus numbers provided by Statista suggest Walmart's worldwide annual online sales have soared from around $25 billion in 2019 to roughly $100 million last year. That's still only a drop in the bucket, to be clear. Even within the all-important U.S, market, Walmart's 10.6% share of the e-commerce market is a distant second to Amazon's 39.7%, according to data compiled by industry research outfit Digital Commerce 360. It's worth noting, however, that Walmart's share of the domestic online shopping market has more than doubled since 2017, while Amazon's share has barely budged. Clearly the company is doing something right. And remember that each of these initiatives is still a work in progress. We're not yet seeing these efforts working at their eventual, refined best. But tariffs? Arguably more bark than bite. The longer the standoff lingers, the clearer it becomes that President Donald Trump is posturing as a negotiation tactic. He wants trade to flow as freely as much as anyone. What it means for revenue, earnings, and Walmart stock So what does it mean for investors? It means don't be surprised if Walmart outperforms expectations over the course of the coming three years. As of the latest look, the analyst community is calling for full-year revenue of $766 billion for the 12-month stretch ending in 2027. Extrapolating that annualized growth rate of 4% would put calendar 2028's top line in the ballpark of just under $800 billion. Using the same projection math, per-share earnings should swell from last year's $2.41 to roughly $3.60 for the same time frame. Not bad. Just bear in mind that analysts could be underestimating Walmart's potential upside just as much as average individual investors are. Walmart's yearly sales growth rate has easily exceeded 6% in most years since 2021, and that's without all the growth weapons the company is successfully wielding now. As for the stock, assuming its current earnings-based valuation of around 42 times its trailing per-share profits, Walmart stock could be priced around $144 three years from now. That's a 47% gain, or an average annualized improvement of roughly 15%. Just don't get so enamored by the numbers that you look past the bigger and better reason to own a piece of this company (or any other). That is, Walmart is doing a lot of things right, leveraging its strengths while creating new ones. When an organization does that, everything else including progress from its stock tends to fall in line. Should you invest $1,000 in Walmart right now? Before you buy stock in Walmart, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Walmart wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor 's total average return is792% — a market-crushing outperformance compared to173%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 2, 2025 John Mackey, former CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. James Brumley has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Amazon and Walmart. The Motley Fool has a disclosure policy.
Globe and Mail
an hour ago
- Globe and Mail
2 Top High-Yield Dividend Stocks You Can Confidently Buy and Hold Until at Least 2030
Investing in high-yielding dividend stocks has benefits and drawbacks. On the plus side, they pay lucrative dividends, making them an excellent way to generate passive income. However, a negative is that many companies have high-yielding dividends because they have nothing better to do with their free cash flow than funnel it back to shareholders. That's not true with ExxonMobil (NYSE: XOM) or Kinder Morgan (NYSE: KMI). They're also investing heavily in growth projects over the next five years. Because of that, you can confidently buy and hold these energy stocks to collect their high-yielding dividends that should steadily rise through at least 2030. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » A bold plan to 2030 ExxonMobil is a preeminent dividend stock. The oil giant has increased its dividend payment for 42 straight years. That leads the oil industry and is a record that only 4% of companies in the S&P 500 have achieved. "And we plan for that track record to continue for decades to come," stated CFO Kathy Mikells on Exxon's fourth-quarter earnings conference call. She noted that continuing to deliver dividend growth is "only possible by investing in the high-quality growth opportunities that drive leading returns and higher cash flows." The oil giant plans to invest $140 billion into major projects and its Permian Basin development program through 2030. It expects "this capital to generate returns of more than 30% over the life of the investments," stated CEO Darren Woods in the press release unveiling its plan to 2030. That level of investment and returns has the potential to deliver incremental growth of $20 billion in earnings and $30 billion in cash flow by 2030, assuming oil prices average around $60 a barrel (below the current price point). That's a 10% compound annual growth rate for its earnings and an 8% growth rate for cash flow from last year's baseline. Exxon estimates that this plan could produce a staggering $165 billion in surplus cash through 2030. The company can use the money to increase shareholder distributions by growing the dividend and continuing to buy back boatloads of its stock. It's aiming to repurchase $20 billion of its shares this year and another $20 billion in 2026, assuming reasonable market conditions. Given Exxon's track record and visible earnings growth through 2030, it seems safe to assume it can continue growing its dividend, which yields nearly 4%, throughout this period. A growing growth pipeline Kinder Morgan extended its dividend growth streak to eight straight years in 2025. The pipeline company's payout, which yields over 4%, should continue growing for at least the next five years. Several factors drive that view. For starters, the company has highly contracted and predictable cash flows. Only 5% of its cash flow is exposed to commodity prices, and another 26% is subject to volume risk. Take-or-pay agreements or hedging contracts that guarantee payment lock in 69% of its cash flow. Kinder Morgan pays out less than half of its stable cash flow in dividends. It retains the rest to invest in expansion projects and maintain its financial flexibility. The company currently has $8.8 billion of commercially secured expansion projects underway. That's a $5.8 billion increase from where its backlog was at the end of 2023. Its current slate of projects includes $8 billion of natural gas-related expansions. Those projects have in-service dates through the second quarter of 2030. Because of that, they'll supply the company with steadily growing cash flow through at least the end of that year. Kinder Morgan plans to continue adding fuel to its growth engine. It recently closed the $640 million acquisition of a natural gas gathering and processing system in the Williston Basin area of North Dakota, which will immediately boost its cash flow. The company has ample financial flexibility to complete additional accretive deals as opportunities arise in the future. Kinder Morgan is also pursuing a slew of additional growth projects. It's currently working on a substantial number of opportunities to supply additional gas to liquefied natural gas (LNG) export terminals that are under development. The company is also pursuing opportunities to supply a lot more gas to the power sector, which is expected to require substantial additional fuel in the future to support the anticipated surge in electricity demand from catalysts such as AI data centers. With visible growth coming down the pipeline and more opportunities on the horizon, Kinder Morgan should have ample fuel to continue increasing its high-yielding dividend through at least 2030. Growth visibility for the next five years Most companies don't have a lot of growth visibility. That's what makes ExxonMobil and Kinder Morgan stand out. They currently have visibility into their ability to grow their earnings and cash flow through 2030. Because of that, it looks highly likely that they will be able to increase their high-yielding dividends throughout that time frame. That's why you can confidently buy and hold these dividend stocks for the next five years, if not much longer. Should you invest $1,000 in ExxonMobil right now? Before you buy stock in ExxonMobil, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and ExxonMobil wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $669,517!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $868,615!* Now, it's worth noting Stock Advisor 's total average return is792% — a market-crushing outperformance compared to173%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 2, 2025
