ARK Invest and Cathie Wood show confidence in Coinbase stock despite SEC lawsuit.
TL;DR Summary
ARK Invest added over 400,000 shares of Coinbase stock worth $21.6 million on the same day the SEC served the exchange with a lawsuit accusing it of offering unregistered securities. Coinbase's stock price plummeted over 20% following the announcement. ARK Invest has been steadily increasing its Coinbase holdings, with previous investments in March, April, and May. Coinbase CEO Brian Armstrong responded to the lawsuit on Twitter, stating his team is confident in their facts and the law and welcomes the opportunity to get clarity around crypto rules in court.
- ARK Invest buys Coinbase shares the same day SEC serves lawsuit Cointelegraph
- Coinbase stock falls after SEC suit: Analyst says, 'Could be an opportunity to buy the stock' Yahoo Finance
- Cathie Wood Buys the Dip in Coinbase Shares The Wall Street Journal
- Stocks making the biggest moves premarket: Netflix, Tesla, Coinbase, GameStop and more CNBC
- Cathie Wood’s Ark Adds $21 Million In Coinbase Stock, Bucking Analysts’ Dire Outlook Forbes
Reading Insights
Total Reads
0
Unique Readers
9
Time Saved
1 min
vs 2 min read
Condensed
76%
367 → 89 words
Want the full story? Read the original article
Read on Cointelegraph