Cathie Wood Watch: Ark Buys Coinbase and Block

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The Street

By Dan Weil Her flagship Ark Innovation ETF has lost 46% during the past year but has rebounded 22% year to date. Like the Energizer bunny, Cathie Wood, chief executive of Ark Investment Management, just keeps on going — with repeat trades of big-name stocks. On Tuesday, Ark funds bought 50,229 shares of Coinbase Global (COIN) – Get Free Report, the largest U.S. cryptocurrency exchange, valued at $3.2 million as of that day’s close. The company’s shares have tumbled 68% over the past 12 months amid turmoil in the cryptocurrency market. But they have rebounded 83% this year, helped by bitcoin’…

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