Cathie Woods Ark Invest is recently increasing bets on his portfolio stocks when they sell out, with the “buying the dip” approach reflecting his confidence in these stocks.
Purchases on Friday: Ark Invest, through its flagship Ark Innovation ETF ARKK And Ark Next Generation Internet ETF ARKWbought 150,192 shares of the cryptocurrency exchange Coinbase Global, Inc. COIN On Friday, daily trading information released by the company showed. The purchase is valued at around $8.8 million at Coinbase’s Friday closing price of $58.44.
Ark has been buying the stock since late October, and its buying has only accelerated this year. The stock has risen well so far this year, despite the early February post-CEO sell-off Brian Armstrong Concerns raised about a potential regulatory ban on crypto staking. Since the beginning of the year, the stock has gained around 65%.
On the other hand, ARKK sold 190,593 shares of the sports betting company DraftKings, Inc. DKNGvalued at approximately $3.5 million.
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Other trades: After I was a seller of Unity Software, Inc. u in December, Ark resumed buying the stock this week. It bought 39,363 shares on Friday.
The company that sold Nvidia Corp. NVDA Since October, the graphics processor giant picked up 9,628 shares on Friday. The stock gained about 14% on Thursday in reaction to the company’s quarterly results, but fell 1.60% on Friday amid broad market weakness.
Continue reading: Cathie Wood meddles in Tesla vs. BYD debate: ‘Charlie Munger and many on Wall Street don’t understand…’
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