Coinbase (COIN) shares were acquired by the investment vehicle known as ARK Invest, which is run by Cathy Wood. The transaction took place on Friday and was worth $12.6 million. The fund purchased stock in the cryptocurrency exchange for a second consecutive day on March 23, after the company got a Wells Notice from the United States Securities and Exchange Commission (SEC) on March 22, which led COIN to tumble by 16% the following day. The investment fund had purchased stock in the bitcoin exchange for a second consecutive day at this point. On Friday, the market activity resulted in a price gain of 1.5% for each share, which brought the total price to $67.83.
It was announced that 155,833 shares of ARK Innovation EFT (ARKK) had been issued, according to the content of an email that was received on Friday evening, local time in the United States. The email was sent by ARK Innovation EFT (ARKK). ARK New Generation Internet EFT was issued a total of 26,395 shares of the company’s stock (ARKW).
On Friday, March 25, ARK also made a purchase of Block (SQ) shares, which brought the transaction’s total value to $18.1 million. This came after the stock saw a drop of up to 17% on March 23, following the publishing of an unfavorable report by short seller Hindenburg Research. This report was published as a result of the stock being shorted. A further purchase of the shares had been made by the mutual fund, bringing the total number of consecutive days in which it had done so to two. The price of a share of Block was last seen at $60.88 at the close of trade on Friday, showing a loss of 1.2% for the trading day.