Ark Invest Targets Tanking Crypto Stock
Cathie Wood’s Ark Investment Management ($ARKK@US) has been bullish on crypto stocks in the past, and the firm is targeting a crypto stock that has been underperforming. Silvergate Capital Corp ($SI@US) posted lower-than-expected quarterly results with investors expecting much better results, and that has sent the stock tumbling, falling over 25% in the past 24 hours and losing over 30% since 2022 began. As a result, Ark Invest bought nearly 80,000 shares that were worth over $8 million at the time of the purchase. These shares are part of the Ark Fintech Innovation ETF ($ARKF@US), with no other ETF hosted by ARK owning shares in Silvergate. In total, ARKF owns over 375,000 shares of Silvergate that are worth about $52 million. Because Silvergate’s growth is tied to the crypto market—and the crypto market cap is dropping—the firm is struggling. Even so, Ark is bullish on crypto as it also owns massive stakes in Coinbase ($COIN@US) and Robinhood ($HOOD@US). At press time, the Ark Invest Fintech Innovation ETF was trading at $34, up almost 2% in early activity.
Browse more videos
Browse more videos
Best Crypto Strategy 2023 - Bitcoin, Ethereum and Altcoins Technical Analysis, Crypto Market Overview PART 3 GALFTUS_CHZ_SEED_MATIC_ADA
BTC PRICE ? || VIETNAM CRYPTO ADOPTION || ADA AND ALTCOINS WHY DOWN? || UK REGULATION ? || BTC ATM?
Silvergate Stock Tumbles As 3Q Deposits Retreat For Banker To Crypto Exchanges - 1breakingnews.com
#Shorts Bitcoin Crypto Cryptocurrency Doge Crypto Trading Blockchain Invest Money Wealth Stock Mar
Girls that Invest founder on why more women should embrace the stock market | The Crypto Mile
Best Altcoins To Hold in 2023, Bitcoin, Ethereum & Altcoins Technical Analysis ft theSignalyst! Full podcast
Best Crypto Strategy 2023 - Bitcoin, Ethereum and Altcoins Technical Analysis, Crypto Market Overview PART 4_FIL_ALGO_ATOM_SUSHI_APE_LINK
Best Crypto Strategy 2023 - Bitcoin, Ethereum and Altcoins Technical Analysis, Crypto Market Overview Part 1 US500_DXY
Best Crypto Strategy 2023 - Bitcoin, Ethereum and Altcoins Technical Analysis, Crypto Market Overview PART 2 USDT_BTC_ETH_NWC
Bitcoin, Ethereum Technical Analysis, Altcoins To Hold Long-Term ft. Rich aka theSignalyst. Part 4: MATIC, LINK, NEAR
Ram Navami 2023: Greetings, Quotes, Wishes, and Images To Share and Celebrate This Auspicious Day