ARK Buys COIN And HOOD Shares Amidst Market Slump
The post ARK Buys COIN And HOOD Shares Amidst Market Slump appeared first on Coinpedia Fintech News
ARK Invest took advantage of Monday’s massive market slump to make its first purchases of Coinbase and Robinhood shares in months. Cathie Wood’s investment management firm bought $17.8 million of COIN, its first purchase of the stock since June 6, 2023, when it bought $21.6 million worth. ARK also added $11.2 million of Robinhood shares. COIN lost 7.3% on Monday to close at $189.47 amid a market sell-off in which the crypto and global stock markets experienced one of their sharpest losses in recent years. HOOD lost 8.17%, falling to $16.42.
