Home Cryptocurrency Cathie Wood Doubles Down on Coinbase

Cathie Wood Doubles Down on Coinbase

by SuperiorInvest

Major growth investor Cathie Wood’s Ark Invest he added more than 213,000 shares of Coinbase (COIN). worth about $13 million into its ARK Innovation ( ARRK ) and Next Generation ( ARKW ) exchange-traded funds. The 181,972 shares added to ARKK appear to be Ark Invest’s largest one-time purchase of Coinbase shares this year. Earlier this week, Coinbase reported quarterly earnings that beat expectations, but its shares fell 1.4% on Wednesday as the crypto-asset saw a broad decline. The crypto exchange’s shares are up 82% year-to-date to $61.18, but have fallen from their closing-day peak of $342 in November 2021.

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