Ark Invest Doubles Down on Crypto Stocks Despite Major Selloff
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As crypto-related stocks were hammered on Tuesday, Cathie Wood’s Ark Invest went on a shopping spree. The firm aggressively bought the dip, snapping up $21.2 million in Bullish and $16.2 million in Robinhood shares.
This isn’t a one-off bet; it’s a full-blown conviction play. Ark has now bought Robinhood for three straight days and poured a staggering $172 million into the newly-public Bullish just last week.
While other investors fled, sending both stocks down over 6%, Ark is betting big on a recovery, demonstrating its high-risk, high-conviction strategy in the volatile crypto market.
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