Cathie Wood Doubles Down on Coinbase

Noted growth investor Cathie Wood’s Ark Invest has added more than 213,000 Coinbase (COIN) shares worth about $13 million to its ARK Innovation (ARRK) and Next Generation (ARKW) exchange-traded funds. The 181,972 shares added to ARKK appear to be Ark Invest’s biggest single purchase of Coinbase’s shares this year. Earlier this week, Coinbase reported quarterly earnings that beat expectations, but its stock slipped 1.4% on Wednesday as crypto assets experienced a broad pullback. The crypto exchange’s stock is up 82% year to date to $61.18, but down from its closing-day peak of $342 in November 2021.

Source link

Be the first to comment

Leave a Reply

Your email address will not be published.