Cathie Wood's Ark funds bought a big stake in Coinbase
CNN
Ark Invest's Cathie Wood, known for her bullishness on momentum stocks, especially Tesla, is making another big bet: This time, on Coinbase Global.
Three of Ark's funds bought a combined $246 million stake in the cryptocurrency giant on its first day of trading Wednesday. In total, Ark Invest bought nearly 750,000 Coinbase shares, according to data released on the firm's website. Shares of Coinbase rose more than 30% in their market debut and were up another 5% in early trading Thursday.
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