Cathie Wood’s ARK Buys Another $4.4 Million of Bullish Shares After Five-Day Drop
Summary
- ARK Invest bought an additional 122,020 shares of Bullish worth about $4.4 million.
- The purchase came after Bullish shares fell for five straight trading sessions and then rebounded 1.88%% to close at $36.23.
- Bullish holds about 24,300 Bitcoin (BTC) despite reporting a first-quarter net loss of $604.9 million.
Forecast Trend Report by Period
ARK Invest, the asset manager led by Cathie Wood, bought additional shares of US crypto exchange Bullish.
The Block reported on May 19 that ARK Invest bought a total of 122,020 Bullish shares this week through three exchange-traded funds, including the ARK Innovation ETF (ARKK) and the ARK Next Generation Internet ETF (ARKW). Based on the closing price, the purchase was worth about $4.4 million.
The buying came after Bullish shares fell for five straight trading sessions. The stock rebounded about 1.88% on the day, closing at $36.23.
Bullish shares have come under pressure after weak earnings. The company recently reported a first-quarter net loss of $604.9 million, nearly double from a year earlier.
Bullish currently holds about 24,300 Bitcoin, the sixth-largest amount among publicly traded companies worldwide.
