business
Cathie Wood’s Ark Invest chases Circle stock as it hits a 2-month high
Key takeaways
- The CRCL purchase is Ark's first since March 24, when it bought $16.3 million worth of the stock.
- Petersburg, Florida-based investment manager added 41,904 shares across three of its exchange-traded funds (ETFs): Innovation (ARKK), Next Generation Internet (ARKW) and Blockchain and Fintech Innovation (ARKF).
- CRCL shares rose 16% to $131.76, the highest closing price since March 18, after the company posted estimate-beating earnings per share (EPS) of 21 cents.
The CRCL purchase is Ark's first since March 24, when it bought $16.3 million worth of the stock.
Ark Invest bought $5.5 million worth of shares in Circle Internet (CRCL) on Monday as the stablecoin developer's stock pumped following its first-quarter earnings report.
The St. Petersburg, Florida-based investment manager added 41,904 shares across three of its exchange-traded funds (ETFs): Innovation (ARKK), Next Generation Internet (ARKW) and Blockchain and Fintech Innovation (ARKF).
Article preview — originally published by CoinDesk. Full story at the source.
Read full story on CoinDesk →
More top stories
Aggregated and edited by the Scoop newsroom. We surface news from CoinDesk alongside other reporting so you can compare coverage in one place.
Editorial policy · Corrections · About Scoop