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Ark Invest Gathers Huge Shares of Tesla Inc and Coinbase Global

Published 12/15/2022, 07:10 AM
Updated 12/15/2022, 07:30 AM
© Reuters. Ark Invest Gathers Huge Shares of Tesla Inc and Coinbase Global

  • Cathie Wood accumulated 75000 shares of Tesla (NASDAQ:TSLA) 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.

See original on CoinEdition

Latest comments

Added $3.2 million to the its existing shares of Coinbase. Oh sure, she`s not using her own money but of her investors.  She`s not risking her own money, so who cares. If Ark is losing money, she`s still on top.
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