50% Off! Beat the market in 2025 with InvestingProCLAIM SALE

Ark Invest Gathers Huge Shares of Tesla Inc and Coinbase Global

Published 12/15/2022, 08:10 PM
Updated 12/15/2022, 08:15 PM
© Reuters Ark Invest Gathers Huge Shares of Tesla Inc and Coinbase Global
COIN
-

  • Cathie Wood accumulated 75000 shares of Tesla and 297,000 shares of Coinbase (NASDAQ:COIN).
  • Her enthusiasm in collecting the shares shows her trust in the future growth of both cryptocurrencies and electric vehicles.
  • Wood has previously collected $60 million in Bitcoin despite the decline in its price after the FTX fall.

Cathie Wood, the Chief Investment Officer (CIO) and the CEO of Ark Invest, an American Investment Management firm, accumulated many shares of Tesla Inc., the American multinational automotive company, and Coinbase Global Inc., the American crypto platform.

Specifically, Ark Invest added $3.2 million to the its existing shares of Coinbase. Currently the firm has 5.8 million COIN in its portfolio, with $228 million in its tech-focused ARK Innovation ETF (ARKK).

According to the report, the firm’s Ark Innovation ETF bought almost 75,000 shares of Tesla, the EV Maker. The company’s enthusiasm in investing and holding the shares accentuates Cathie Wood’s trust in electric vehicles and crypto as a future assets.

While tracing the flow of COIN prices over the past six months, it is evident that the coin moves through a bearish period, as the $90 in August has fallen to the current price of $40.19.

The post Ark Invest Gathers Huge Shares of Tesla Inc and Coinbase Global appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.