Cathie Wood, known as the 'female stock god', takes action once again against the trend. According to the latest trading records, Ark Invest purchased $21.2 million worth of Bullish stock and $16.2 million worth of Robinhood Markets stock through its flagship fund 'ARK Innovation Active ETF (ARKK)' while cryptocurrency-related stocks were under pressure on Tuesday.
Trading records show that ARKK purchased a total of 356,346 shares of Bullish and 150,908 shares of Robinhood on Tuesday.
It is worth noting that this is the third consecutive trading day that Ark has increased its holdings in Robinhood, having purchased $9 million and $14 million worth of stock on the previous Friday and Monday, respectively.
On the other hand, after Bullish was listed for trading last week, Ark invested $172 million in just a few days through its three ETFs to buy Bullish stock.
Stock prices under pressure, going against the trend to 'pick up bargains'
However, the market atmosphere remains noticeably sluggish. At the close on Tuesday, Bullish fell 6.09% to $59.51, and dropped another 3.24% in after-hours trading; Robinhood also fell 6.54% to $107.50 that day, with a further decline of 1.23% in after-hours trading.
Moreover, the overall cryptocurrency concept stocks have almost all fallen. Coinbase dropped 5.82%; Galaxy Digital plummeted 10.06%; Strategy fell over 7.4%; Circle also dropped 4.49%. In terms of the U.S. stock market, the Nasdaq Composite Index closed down 1.46% that day.
"The 'female stock god' takes action against the trend! Ark invests $37.4 million to increase holdings in Bullish and Robinhood" was first published on (Block Tech).