{"id":35543,"date":"2024-08-06T12:02:01","date_gmt":"2024-08-06T12:02:01","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ark-invest-acquires-17-8m-in-coinbase-11-2m-in-robinhood-despite-market-drop\/"},"modified":"2024-08-06T12:02:01","modified_gmt":"2024-08-06T12:02:01","slug":"ark-invest-acquires-17-8m-in-coinbase-11-2m-in-robinhood-despite-market-drop","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ark-invest-acquires-17-8m-in-coinbase-11-2m-in-robinhood-despite-market-drop\/","title":{"rendered":"ARK Invest Acquires $17.8M in Coinbase, $11.2M in Robinhood Despite Market Drop"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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Cathie Wood\u2019s ARK Invest capitalized on a significant market downturn on Monday to make strategic purchases of Coinbase (COIN) and Robinhood (HOOD) shares, marking its first acquisition of these stocks in several months.<\/p>\n

ARK Invest purchased $17.8 million worth of Coinbase shares, its first buy since June 6, 2023, when it acquired $21.6 million in COIN. Additionally, ARK bought $11.2 million in Robinhood shares, marking its first purchase of HOOD since February 13. This move comes as both stocks experienced notable declines, with COIN dropping 7.3% to close at $189.47 and HOOD falling 8.17% to $16.42 amid a broad market sell-off affecting crypto and global stocks.<\/p>\n

ARK\u2019s Investment Strategy<\/h2>\n

ARK Invest often buys shares during price dips, with the intent to sell them once prices recover. The firm aims to prevent any single holding from exceeding a 10% weighting in its exchange-traded funds (ETFs), which has led to the recent sale of some COIN holdings.<\/p>\n

Following Monday\u2019s acquisitions, Coinbase now represents 8.55% of ARK\u2019s Innovation ETF (ARKK), 6.73% of its Next Generation Internet fund (ARKW), and 9.72% of its Fintech Innovation ETF (ARKF).<\/p>\n

Cathie Wood\u2019s investment firm continues to show confidence in the future of cryptocurrency and related platforms. By purchasing significant shares in Coinbase and Robinhood, ARK Invest reinforces its belief in the potential of these companies despite current market volatility.<\/p>\n

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Wood\u2019s strategy aligns with ARK Invest\u2019s broader approach of identifying innovative companies poised for long-term growth. The recent purchases highlight the firm\u2019s commitment to maintaining a diversified portfolio and taking advantage of market opportunities to bolster its holdings in key sectors.<\/p>\n<\/p><\/div>\n

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(Originally posted on : Crypto News – iGaming.org ) Cathie Wood\u2019s ARK Invest capitalized on a significant market downturn on Monday to make strategic purchases of Coinbase (COIN) and Robinhood (HOOD) shares, marking its first acquisition of these stocks in several months. ARK Invest purchased $17.8 million worth of Coinbase shares, its first buy since […]<\/p>\n","protected":false},"author":35,"featured_media":35544,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35543"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/35"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=35543"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/35543\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/35544"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=35543"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=35543"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=35543"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}