Ark Invest Adds Coinbase Stock as Crypto Exchange's Price Slides

Dec 12,2022
KingData News: Cathie Wood's Ark Investment Management said in an e-mail it bought 78,982 shares in cryptocurrency exchange Coinbase (COIN), its first investment in the crypto exchange in a month. At Friday's closing price of $40.24 , the purchase would have cost about $3 million. The stock has been in a funk in recent months, and is down almost 60% from $98 in early August. The purchase takes the ARK Innovation ETF's (ARKK) holding to 5.7 million COIN shares. That puts the purchase on the small side – increasing the ETF's exposure by 1.4%.
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