Find Here The Recently Bought Shares By ARK Invest’s Cathie Wood

• Cathie Wood’s Management firm purchased more than 10,000 shares in a crypto exchange platform.
• Cathie Wood recently bought the shares of Zoom Video Communication, Twilio, and Tesla Motors.
• After the following announcement by Wood, the fluctuations in its share price has been seen.

ARK Invest’s CEO and CIO, Cathie Wood, this Monday (October 24, 2022) purchased three stocks including Zoom Video Communication (ZM), Twilio (TWLO), and Tesla Motors (TSLA). However, the share price of ZM and TWLO trading below its all-time highs, whereas the share price of TSLA dropped after its releasing its earning reports.

Cathie Wood’s “Stock-List”

Cathie Wood’s, ARK Investment Management purchased more than 10,000 shares in Coinbase Global Inc. (COIN,) a crypto exchange platform that has a valuation of over $2.2 Million. The following valuation is based on the closing price of the share on this Monday.

The following crypto-purchase by Cathie Wood is done through ARK Fintech Innovation ETF (ARKF.) While, as per the data sourced from company’s website, Coinbase is ranking at third largest holder with a gain of 7.96%.

It must be noted that the crypto exchange platform was the top contributor to the third-quarter performance of the ARK Next Generation Internet ETF (ARKW) and ARKE. 

In July, Cathie Wood sold the shares of Coinbase which was at the estimated valuation of around $75 Million at that time. The sell-off of Coinbase kicked off by the SEC report that was about the investigation of listing unregistered securities on its platform.

According to its website, Coinbase is the easy place where one can buy and sell cryptocurrencies and it also allows users to hold and trade cryptocurrencies including Bitcoin (BTC), Ethereum (ETH) and Dogecoin (DOGE).

In the Third Quarter Commentary, Cathie Wood mentioned that her firm maintains conviction in blockchain technology’s ability to cut-off the old traditional business models, while majorly focusing in financial services. She said that “In our view, BlackRock’s decision to partner with Coinbase is a strong signal that institutions consider crypto — starting with Bitcoin — a new asset class.”

Moreover, in the stock-list of Cathie Wood, she further added more than 21,000 shares of Robinhood Markets Inc. (HOOD) on the same day. This share purchase was done through the ETFs that valued at above $222,000. However, the share price of Robinhood has lost more than 70% since its launching on the stock exchange in previous year. But, additionally the firm is expanding the cryptocurrency offerings into its platform.

Lastly, Cathie Wood has added more than 8,100 shares of Bitcoin bull Jack Dorsey-founded Block Inc. (SQ) shares on October 24, 2022, that valued at above $461,000 based on closing price of the purchased-day. This share purchase was done via two of the company’s ETFs.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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