Coinbase stock has risen since Cathie Wood sold. Is it a buy?

Coinbase (coin) – Get the Coinbase Global Inc report Stocks rallied Thursday as crypto experts report a partnership with sprawling asset manager BlackRock (black) – Get the BlackRock report.

The stock rose 44% in early trade, before pulling back, gaining about 10% to near $89.

Following yesterday’s 20% gain and Tuesday’s 7.2% gain. With such a benefit, Cathie Wood & Co. must be feeling a little glum.

Wood’s Ark Invest sold more than 1.4 million shares at around $53.This is after the moving average cost basis near $255 per share — so lost about 80% on the sale. The sale also follows reports of an SEC investigation into the company.

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