Cathie Wood-led Ark Investment Management on Tuesday snapped up another 236,348 shares of cryptocurrency exchange Coinbase Global Inc COIN.
Coinbase has been in a free-fall mode since its blockbuster listing last Wednesday. Shares closed 3.66% lower at $320.82 on Tuesday, giving the cryptocurrency exchange a market cap of $63.91 billion.
Two of the investment firm’s flagship funds bought shares estimated to be worth $75.8 million on Tuesday's dip.
The Ark Innovation ETF ARKK bought 184,175 shares of the cryptocurrency exchange desk, representing 0.26% of the ETF. The ARK Next Generation Internet ETF ARKW bought 52,173 shares, representing about 0.25% of the ETF.
See Also: Why Cathie Wood Is Bullish On Crypto Play Silvergate Despite Recent Slump
The New York-based firm also bought 1,146,771 shares of the tech billionaire Peter Thiel-backed data analytics firm Palantir Technologies Inc PLTR estimated to be worth $24.9 million based on its Tuesday’s close of $21.78.
The Ark Innovation ETF bought the shares representing 1% of the ETF.
The investment firm also bought over half a million shares estimated to be worth $28.86 million of the daily fantasy sports company DraftKings Inc DKNG.
The Ark Innovation ETF bought 214,625 shares, representing 0.05% of the ETF and the ARK Next Generation Internet ETF bought 303,552 shares representing 0.25% of the ETF.
The investment firm also sold a total of 31,938 shares of chipmaker Nvidia Corp (NASDAQ: NVDA) valued at $19.38 million as of Tuesday’s close via two of its ETFs that include ARK Autonomous Technology & Robotics ETF ARKQ, and Ark Fintech Innovation ETF ARKF.
Nvidia shares closed 1.24% lower at $606.85 on Tuesday. It has a 52-week high of $648.57 and 52-week low of $267.11.
The UK government on Monday intervened in chipmaker's $40 billion takeover of chipmaker Arm on national security grounds, reported CNBC.
See Also: Cathie Wood Buys Peloton, Coinbase Dips, Cuts Nvidia Stake
Wood’s firm also sold 233,147 shared worth about $57.2 million of Square Inc SQ, one of its three top holdings.
ARKW sold 44,500 shares of the fintech company, representing 0.16% of the ETF. ARKK sold another 188,647shares, representing 0.197% of the ETF.
Other Ark Buys On Tuesday:
- JD.Com JD
- Opendoor Technologies OPEN
- Pinduoduo PDD
- Recursion Pharmaceuticals RXRX
- Ionis Pharmaceuticals IONS
- Berkeley Lights BLI
- Beam Therapeutics BEAM
- TuSimple TSP
- Workhorse Group WKHS
- Jaws Spitfire Acquisition SPFR
- Niu Technologies NIU
- Iridium Communications IRDM
- 3D Systems DDD
- Tencent TCEHY
- Roblox RBLX
- Peloton Interactive PTON
- Okta OKTA
- Reinvent Technology Partners RTP
Other Ark Sells On Tuesday:
- LendingTree TREE
- Novartis NVS
- Roche RHHBY
- Thermo Fisher Scientific TMO
- Twitter TWTR
- Roku ROKU
- PACCAR PCAR
- Taiwan Semiconductor Manufacturing TSM
- Xlinx XLNX
- Pure Storage PSTG
- Intercontinental Exchange ICE
Photo by World Poker Tour on Flickr
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