Cathie Woods Ark Invest snaps up more than half a million Coinbase shares as exchange's stock plunges

Cathie Woods Ark Invest snaps up more than half a million Coinbase shares as exchange's stock plunges

Shares of Coinbase Global (COIN) plunged 26.4% in after-hours trading Wednesday after reporting disappointing first-quarter results.

Three Cathie Woods ARK Investment Management funds bought a total of 546,579 shares of Coinbase Global (COIN) stock, Ark said in an email Thursday. Coinbase shares fell 26.4% to $52.35 in after-hours trading Wednesday.

  • ARK Innovation ETF, or AARK, bought 360,855 Coinbase shares, 0.252% of the fund's investments.
  • ARK Next Generation Internet ETF, or ARKW, bought 62,602 shares, accounting for 0.2397% of the fund's investments in Coinbase.
  • ARK Fintech Innovation ETF, or ARKF, bought 123,122 shares of Coinbase representing 0.7747% of the fund's investments.