Cathie Wood-led Ark Investment Management scooped up more shares in Coinbase Global Inc (NASDAQ: COIN) on Thursday as the cryptocurrency trading platform emerged from a massive slump.
St. Petersburg, Florida-based Ark Invest bought 240,791 shares, estimated to be worth $14 million, in Coinbase.
Shares of the company closed 8.9% higher at $58.5 on Thursday.
Coinbase stock lost 48% in the past five sessions up to its last close.
On Wednesday, shares fell 26.4% after Coinbase swung …
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