Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Cathie Wood-led ARK Investment Management bought over 39,000 shares of cybersecurity technology company Crowdstrike Holdings Inc (NASDAQ: CRWD) at an estimated valuation of over $4.6 million on Wednesday.
The purchase was done via the ARK Next Generation Internet ETF (NYSE: ARKW). Crowdstrike is the 26th largest holding of the fund, with a weight of 1.04%. Zoom Video Communications Inc (NASDAQ: ZM), Roku Inc (NASDAQ: ROKU) and Tesla Inc (NASDAQ: TSLA) are the top three holdings of the fund.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
Also Read: How To Invest In Startups
Earnings Impact: On Tuesday, the company reported its earnings, registering a bigger net loss during the third quarter. GAAP net loss attributable to CrowdStrike stood at $55 million, compared to $50.5 million in the third quarter of fiscal 2022.
The company said that annual recurring revenue (ARR) increased 54% year-over-year and grew to $2.34 billion as of October 31, 2022, of which $198.1 million was net new ARR added in the quarter.
George Kurtz, CrowdStrike’s co-founder and CEO, said total net new ARR was below expectations as increased macroeconomic headwinds elongated sales cycles with smaller customers and caused some larger customers to pursue multi-phase subscription start dates.
Shares of the company fell over 14% on Wednesday despite a Wall Street rally led by Federal Reserve Chair Jerome Powell’s comments on the potential slowing of the rate hike pace.
Major Sale: ARK sold over 57,000 shares of Spotify Technology SA (NYSE: SPOT) at an estimated valuation of over $4.5 million. Spotify shares closed over 5% on Wednesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.