Cathie Wood Goes Bargain Hunting: Why She's Scooping Up $21 Million of Coinbase Stock
Ark Invest CEO Cathie Wood bought more Coinbase (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.