Cathie Wood Goes Bargain Hunting: Why She's Scooping Up $21 Million of Coinbase Stock
Ark Invest CEO Cathie Wood bought more (NASDAQ: COIN) stock after a recent pullback. Ark purchased new shares worth roughly $21.6 million on June 6 for three of its exchange-traded funds (ETFs).
The big purchases came on the same day that the Securities and Exchange Commission (SEC) triggered big sell-offs for the stock by announcing it had filed a suit against Coinbase for operating as an unregistered trading exchange.
The SEC lawsuit could shake up the crypto world. However, Wood's recent buying move suggests she doesn't see the pending legal issues disrupting Coinbase's operations.
Source Fool.com
Coinbase Global Inc. Stock
€165.92
-2.710%
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