Ark Invest Makes a Bullish Move with Coinbase Stock
CryptoNewsTerminal Staff11 Sep, 2024
Ark Invest Makes a Bullish Move with Coinbase Stock
Ark Invest, an investment management firm led by Cathie Wood, made a significant purchase of Coinbase stock on September 11th. According to the Ark Invest Daily newsletter, the firm acquired 53,708 shares, amounting to approximately $8.51 million. This move suggests Ark Invest's confidence in the long-term growth prospects of Coinbase, a leading cryptocurrency exchange. Coinbase's stock has seen volatility in recent months due to the fluctuations in the cryptocurrency market. However, Ark Invest's purchase signals its belief that the company's underlying business remains strong. This news is likely to be welcomed by investors who believe in the potential of Coinbase and the cryptocurrency industry as a whole.
