Cathie Wood ARK Funds Buy 750,000 Coinbase Shares After IPO
Cryptocurrency exchange Coinbase Global (NASDAQ: COIN) had its highly anticipated initial public offering yesterday, and standing ready was ARK Invest fund manager Cathie Wood, who bought nearly 750,000 shares for three of her exchange-traded funds (ETFs).
Coinbase debuted on the Nasdaq exchange at $381 per share, but quickly hit a high of just under $430, before closing the day at around $328. That closing price gives Wood a $248 million stake in the crypto exchange.
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Source Fool.com
