Ark Invest Scoops Up More Shares in Declining Fintech Stocks

Cathie Wood's Ark Invest has made significant purchases of shares in several prominent fintech and crypto companies. According to its latest trading disclosure, Ark Invest bought 9,014 Coinbase (COIN) shares across ARKK, ARKW, and ARKF ETFs, worth $1.28 million based on Thursday's closing price. The firm also acquired 9,264 shares of Circle (CRCL), valued at $637,455, and 9,136 shares of Bullish (BLSH), worth $199,895.

The investment firm increased its holdings as all four stocks traded lower on Thursday. Coinbase fell 5% to $142.52, Circle dropped 3% to $68.81, Robinhood slid 3.85% to $93.47, and Bullish declined 6.77% to $21.88.

This move comes as Ark CEO Cathie Wood has been optimistic about the decline of inflation, citing rising productivity as a key disinflationary force. In a thread on X, she noted that inflation is down to 0.5% YoY and predicted it may break down further due to factors beyond oil prices.