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Ark Invest has recently acquired a significant stake in Coinbase Global Inc and Robinhood Markets Inc, despite the companies’ stock prices experiencing substantial drops. The investment firm purchased approximately $5.2 million worth of Coinbase shares amid a market decline that resulted in a 7.43% drop.
This development reinforces Ark’s dedication to its strategy of diversifying its portfolio by investing in assets during market fluctuations. By purchasing these shares, Ark is demonstrating confidence in the potential growth and recovery of these companies.
The acquisition of approximately $5.2 million worth of Coinbase shares adds to Ark Invest’s existing stake in the company, with the latter now representing 7.14% of the ARKK ETF.
Source: https://cryptonewsland.com/ark-invest-buys-5-2m-in-coinbase-shares-as-stock-dips-7-43/
