ARK Invest Invests an Additional $21.4M in Coinbase

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Funds managed by ARK Invest have just bought a total of 420,949 COINBASE shares valued at $21.4 million.

The company reportedly bought 330,461 shares through Ark Innovation ETF (ARKF), 54,466 through Next Generation Internet (ARKW) and 36,022 through Fintech Innovation (ARKF).

The shares of the US cryptocurrency exchange closed the November 8 trading session down 10.8%.

In pre-market trading, the stock is valued at $48.50, down 4.6% from Tuesday's closing price. Since the beginning of the year, the platform's shares have lost 80% of their value.

ARK Invest bought Coinbase shares in October for the first time since June.

The exchange's Q3 2022 net loss totaled $545 million, up from $1.1 billion in the year-earlier period.

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