Cathie Wood’s ARK Invest Buys Over 170,000 Shares of Coinbase
A couple of Cathie Wood's Ark Invest funds bought over 170,000 shares of Coinbase on May 19.
A couple of the ARK exchange-traded funds run by ETF star Cathie Wood made huge purchases on Wednesday. Accordingly these funds bought over 170,000 shares of Coinbase Global, Inc. (NASDAQ: COIN | COIN Price Prediction) shares on Wednesday, as the price of these ETFs dropped over 1% on Wednesday. Note that these ETFs are still up handily in the last year.
ARK Innovation ETF (NYSEARCA: ARKK) bought 133,848 shares of Coinbase, while ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 36,382 shares. At Wednesday’s closing price this would have valued this purchase at $38.3 million. Even though this is a small fraction of the total holdings, every little bit counts. ARKK is up 75%, and ARKW is up 77% in the last year.
Check out all of ARK Invest’s buys for Monday:
| Fund | Direction | Ticker | Company | Shares |
|---|---|---|---|---|
| ARKF | Buy | KSPILI | KASPI.KZ JSC | 4,253 |
| ARKG | Buy | SGFY | SIGNIFY HEALTH INC | 23,140 |
| ARKG | Buy | RXRX | RECURSION PHARMACEUTICALS INC | 80,791 |
| ARKG | Buy | RPTX | REPARE THERAPEUTICS INC | 17,863 |
| ARKG | Buy | ONEM | 1LIFE HEALTHCARE INC | 140,300 |
| ARKG | Buy | MASS | 908 DEVICES INC | 31,995 |
| ARKG | Buy | CSTL | CASTLE BIOSCIENCES INC | 15,900 |
| ARKG | Buy | CMIIU | CM LIFE SCIENCES II INC | 2,407 |
| ARKG | Buy | CDXS | CODEXIS INC | 49,614 |
| ARKK | Buy | ZM | ZOOM VIDEO COMMUNICATIONS INC | 1,651 |
| ARKK | Buy | TSLA | TESLA INC | 43,065 |
| ARKK | Buy | SQ | SQUARE INC | 192,141 |
| ARKK | Buy | PLTR | PALANTIR TECHNOLOGIES INC | 66,857 |
| ARKK | Buy | COIN | COINBASE GLOBAL INC | 133,848 |
| ARKQ | Buy | TSLA | TESLA INC | 7,966 |
| ARKQ | Buy | PATH | UIPATH INC | 20,500 |
| ARKQ | Buy | NIU | NIU TECHNOLOGIES | 72,335 |
| ARKQ | Buy | ACIC | ATLAS CREST INVESTMENT CORP | 138,115 |
| ARKW | Buy | COIN | COINBASE GLOBAL INC | 35,382 |
| ARKW | Buy | SQ | SQUARE INC | 51,959 |
| ARKW | Buy | TSLA | TESLA INC | 18,477 |
| ARKX | Buy | BLDE | BLADE AIR MOBILITY INC | 53,797 |
Catherine Wood, the CEO and CIO of ARK Investment Management LLC is a minority and non-voting shareholder of 24/7 Wall St., LLC, owner of 247wallst.com.
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Chris Lange is a financial and geopolitical writer with more than a decade of experience covering a myriad of topics. He has published thousands of articles for 24/7 Wall St., with past coverage focused heavily on stocks, IPOs, healthcare, defense, global affairs, and technology.
His work has been quoted, or referenced by a number of outlets including Business Insider, USA Today, Yahoo Finance, MSN, The Motley Fool, and many other publications. A graduate of Southwestern University, he studied business with a focus on investments and has previous experience in banking and startups.
When not reading or writing the news, he is following his passion for Lacrosse, playing chess, or building solar projects with his dad.
