Ark Invest buys combined $4.4 million in Bullish shares as stock rebounds from five-day drop
The Block
Cathie Wood’s Ark Invest purchased $4.4 million in Bullish shares across three ETFs following a recent dip in the company’s stock price.Summary
Cathie Wood-led Ark Invest has acquired $4.4 million worth of Bullish shares across its ARKK, ARKW, and ARKF exchange-traded funds. This investment follows a 15.4% decline in Bullish’s stock over the previous five days, though the shares saw a minor 1.88% rebound on Tuesday.
The purchase coincides with Bullish’s recent mixed first-quarter financial report, which revealed a $604.9 million net loss despite a significant increase in adjusted revenue. CEO Tom Farley is looking toward the company’s $4.2 billion acquisition of Equiniti to drive future growth by integrating tokenization technology with regulated transfer services.
(Source：The Block)