2023-03-09
ARK Investment Management LLC, an investment
management firm runs by Cathie Wood bought more shares of Coinbase and Robinhood
for $3.44 million and $9.97 million respectively. On March 7, 2023 Ark Invest invested in Robinhood (HOOD) and Coinbase
(COIN), acquiring $9.97 million in Robinhood stock and $3.44 million in
Coinbase stock
47,568 Coinbase shares went to the
flagship fund called Ark Innovation ETF. 8,031 Coinbase shares went to the Ark Next
Generation Internet ETF. ARK
Invest bought Robinhood stock amounted to 1.058 million shares.
Cathie Wood believes that cryptoeconomy is growing and
blockchain technology is on the pace of rapid development. Coinbase is the
leader in cryptocurrency exchanges, it has potential to gain market share from
crypto industry. For Robinhood, users can trade both stocks and crypto on the
app. Block, Coinbase, and Robinhood are Wood’s favorite fintech stocks.
