Cathie Wood Watch: Ark Buys Coinbase After Rout

Cathie Wood, chief executive of Ark Investment Management, traded familiar names Thursday, purchasing a cryptocurrency exchange and selling a digital entertainment company.

All the valuations below are as of Thursday’s close.

Ark funds bought a whopping 546,579 shares of Coinbase  (COIN)  the largest U.S. cryptocurrency exchange, valued at $29.3 million.

The stock has cratered in recent days amid the weakness in cryptocurrencies. It has dropped 83% year to date. Wood frequently doubles down on her holdings when they fall. Coinbase is the 10th biggest holding in Ark’s flagship Ark Innovation ETF  (ARKK) – Get ARK Innovation ETF Report.

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