Cathie Wood Watch: Ark Continues Coinbase Buying Spree

Published by
The Street

By Dan Weil Wood’s flagship Ark Innovation ETF has dropped 37% over the past year, but has rebounded 24% year to date. Famed money manager Cathie Wood, chief executive of Ark Investment Management, continued to buy and sell some of her core names Wednesday. Ark funds purchased 213,519 shares of Coinbase Global (COIN) – Get Free Report, the largest U.S. cryptocurrency exchange, valued at $13.1 million as of Wednesday’s close. Wood has been building up her Coinbase position for months. The company’s shares have tumbled 65% over the past year amid turmoil in the cryptocurrency market. But they ha…

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