Cathie Wood's Ark Loads Up Another $5M In Coinbase While Analyst Flags Concerns With Stock

Cathie Wood's Ark Loads Up Another $5M In Coinbase While Analyst Flags Concerns With Stock

Actively managed exchange-traded funds of Ark Invest continued the purchases of non-healthcare stocks on Thursday.

The Cathie Wood-owned firm bought 101,720 shares of Block, Inc. SQ, the fintech and blockchain technology company run by Bitcoin BTC/USD bull Jack Dorsey. At Thursday's closing price of $62.42, the purchase would be worth $6.4 million.

Related Link: Cathie Wood Concerned That $22,500 Is Bitcoin's New Resistance

In another cryptocurrency-linked purchase, the firm's flagship ARK Innovation ETF ARKK lapped up 90,861 shares of Coinbase Global, Inc. COIN, valued at $4.9 million.

Shares of the crypto exchange Coinbase ended Thursday moderately higher despite Mizuho Securities analyst Dan Dolev highlighting continuing market share erosion for the exchange.

Price Action: ARKK closed Thursday's session down 2.07% at $43.10, according to Benzinga Pro data.

Posted In: ARK InvestCathie WoodJack DorseyAnalyst ColorCryptocurrencyFintechLong IdeasBroad U.S. Equity ETFsMarketsAnalyst RatingsTrading IdeasETFs

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