Ark Invest, the investment firm led by Cathie Wood, has recently made two significant additions to its portfolio. On Friday, the company purchased 139,105 Coinbase shares worth $7,941,504.45 and 263,504 Robinhood shares worth $2,629,769.92, according to a trade notification email. Ark Invest has been known to frequently buy and sell Coinbase stock, but had been relatively quiet in recent weeks.
The recent dip in the crypto exchange’s stock price, driven by worries of potential restrictions from U.S. regulators on crypto staking, proved to be a compelling opportunity for Ark Invest to make a purchase. The company has faced challenges in the post-Covid era, as several of its stock holdings, including investments in Coinbase and Grayscale Bitcoin Trust, have hit lows in recent months.
Overall, Ark Invest continues to be a player in the crypto market, with its recent additions to its portfolio demonstrating its confidence in the industry. Despite facing challenges in the post-Covid era, the company remains a darling of the pandemic-era investment surge, and its recent purchases of Coinbase and Robinhood shares showcase its commitment to seeking out attractive investment opportunities.
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