ARK Invest Scoops Up Coinbase, Block Shares for Second Straight Day
TL;DR ARK Invest bought $12.6 million worth of Coinbase (COIN) and $18.1 million worth of Block (SQ) shares on Friday, following a Wells Notice from the SEC and a negative report by short seller Hindenburg Research respectively. The Coinbase shares closed at $67.83 apiece and the Block shares closed at $60.88 apiece.
Cathy Wood's ARK Invest bought $12.6 million of Coinbase (COIN) shares on Friday, the second straight day the fund bought the crypto exchange's stock after the company received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) on March 22, sending COIN tumbling 16% the next day. The shares gained 1.5% on Friday to close at $67.83 apiece.
According to an email sent Friday night U.S. time, 155,833 shares went to ARK Innovation EFT (ARKK), and 26,395 shares went to ARK Next Generation Internet EFT (ARKW).
ARK also bought $18.1 million of Block (SQ) shares on Friday, the fund's second day of buying the shares after the stock fell as much as 17% on March 23 after a negative report by short seller Hindenburg Research. Block shares closed down 1.2% on Friday at $60.88 apiece.