Cathie Wood Has Invested Over $1 Billion Into This Crypto Stock. Should You Follow Her Lead?
Love her or hate her, when Cathie Wood (the CEO of ARK Invest) speaks, the investing community listens. Ark manages six actively traded exchange-traded funds (ETFs), and each one is centered around long-term growth and paradigm-shifting technology.
Aside from electric vehicles, one of Wood's most outspoken ideas is Bitcoin (CRYPTO: BTC). And so it's no surprise that the investment management firm's various funds owns shares of one of the largest cryptocurrency exchanges in the world, Coinbase Global (NASDAQ: COIN). What is surprising, however, is the sheer number of shares that these funds have acquired in the two months since the company's direct listing. Let's take a look at the ARK's Coinbase stock accumulation -- as well as the company's strengths and weaknesses -- to determine if Coinbase is a stock worth buying now.
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Source Fool.com
