ARK Invest purchases millions worth of COIN and HOOD
The post ARK Invest purchases millions worth of COIN and HOOD appeared on BitcoinEthereumNews.com.
Cathie Wood’s investment management company, ARK Invest, purchased $17.8 million of Coinbase’s COIN and $11.2 million of Robinhood’s HOOD. ARK Invest’s massive Robinhood and Coinbase stock purchases came after the crypto market slump, which affected crypto-related stocks, such as HOOD and COIN. The massive COIN purchase is the first the company has made since June 2023, when it bought over $21 million of COIN. The investment company’s acquisition of HOOD was also the first since February of this year. TradingView data from August 5 showed that COIN lost 7.32% to $189.47 while HOOD lost 8.17% to $16.42. Monday’s crypto and stock market crash is among the worst, with multiple coins registering significant losses. The U.S. and Japanese stock markets also experienced huge losses during the stock market slump. The Dow Jones Industrial Average, S&P 500, and NASDAQ Composite all saw significant losses, while the Nikkei 225 Index slumped by 12%, the most significant drop since 1987. ARK Invest purchases stocks through its ETFs Recent ARK stock acquisitions were through its ETFs, including the ARK Innovation ETF (ARKK), ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Next Generation Internet ETF (ARKW), ARK Genomic Revolution ETF (ARKG), Ark Fintech Innovation ETF (ARKF), and ARK Space Exploration & Innovation ETF (ARKX). ARK bought the 93,797 Coinbase and 681,885 Robinhood shares through ARKK, ARKW, and ARKF. The investment company also made notable stock purchases from Meta Platforms Inc., AMD Inc., Palantir Technologies Inc., Amazon.com Inc., and Tesla Inc. ARK stock purchases on Monday amounted to over $70 million. Cathie Wood and Ark Invest’s trade activity from today 8/5 (2/2) pic.twitter.com/nrUKJPG0OT — Ark Invest Daily (@ArkkDaily) August 6, 2024 ARK Invest made significant spot Ether ETF purchases in addition to the crypto-related stocks. TradingView data shows that ARK bought $1.7 million of 3iQ Ether Staking…
Filed under: News - @ August 6, 2024 7:22 pm