Cathy Wood’s Ark Investments recently done increase bets on their portfolio stocks when they sell, Shows his confidence in these stocks with a “buying the dip” approach.
Friday Shopping: Arc Invest, through its flagship Arch Innovations ETF ARKK And Arc Next Generation Internet ETF ARKWBought 150,192 shares of cryptocurrency exchange Coinbase Global, Inc. coin showed the daily business information released by the firm on Friday. The purchase is worth approximately $8.8 million at Coinbase’s Friday closing price of $58.44.
Arch has been buying stock since late October, and the buying spree has accelerated this year. The stock has done well so far this year despite an early February selloff after CEO Brian Armstrong expressed concern about the possibility Regulatory restrictions on crypto staking. The stock is up nearly 65% since the start of the year.
On the other hand, ARKK sold 190,593 shares of the sports betting company. DraftKings, Inc. dkngWhich costs around $3.5 million.
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Other Trades: after being the seller of Unity Software, Inc. You In December, Arch resumed buying stock this week. It bought 39,363 shares on Friday.
firm that was selling Nvidia Corporation NVDA Friday picked up 9,628 shares of the graphics processor giant, the most since October. The stock rose nearly 14% on Thursday in response to the company’s quarterly results, but declined 1.60% on Friday amid broader market weakness.
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