Wood’s ARK Invest Buys MORE $COIN

FILE PHOTO: Cathie Wood, founder and CEO of ARK Investment Management LLC, speaks during the Skybridge Capital SALT New York 2021 conference in New York City, U.S., September 13, 2021. REUTERS/Brendan McDermid

Cathie Wood’s Ark Invest made another $COIN purchase, buying up 33,756 shares (approximately $1.45 million based on yesterday’s close). 💰

This is the third Coinbase share purchase in four weeks. 

On December 14,  2022, Wood bought $12 million in Coinbase and another $5.5 million worth on December 30, 2022.

Along with yesterday’s purchases, how have they performed? Let’s take a look:

Click to enlarge.

December 14, 2022 +6.60%

December 30, 2022  +21.09%

January 10, 2023 -0.69%

Jefferies recently rated COIN at “Hold,” citing Coinbase’s strong balance sheet ($5 billion), proactive regulatory compliance, and transparency as a publically traded company. 

At the time of writing, Coinbase was trading higher by more than +28% for the week. 🤩

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