Cathie Wood’s ARK Invest buys another 168,869 Coinbase shares amid the stock plummeting to $50.
Cathie WoodOn May 1, ARK purchased 129,604 Coinbase shares for its ARK Innovation exchange-traded fund , according to an investor notification seen by Cointelegraph.
The investment company also bought 23,456 Coinbase shares for its ARK Next Generation Internet ETF and 15,809 for its Fintech Innovation ETF. The entire purchase amounted to 168,869 Coinbase shares, worth around $8.5 million. The acquisition makes up nearly 50% of the total Coinbase shares bought by ARK last month. In April, ARK bagged a total of 304,300 shares worth $17.5 million. Previously, ARK bought 2.4 million shares in March for about $117 million.
The latest purchases by ARK come amid Coinbase stock seeing another wave of red. On Monday, Coinbase shares dropped 6.8% amid news of a new class-action lawsuit
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