Cathie Wood Capitalizes on Peter Thiel-Backed Bullish Stock Following Dramatic IPO Surge
Ark Invest executed major trades purchasing Bullish shares and divesting Shopify holdings amid significant market movements.
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Ark Invest acquired 2.53 million shares of Bullish valued at $172.22 million through its ARKF, ARKK, and ARKW ETFs. The cryptocurrency exchange, which has Peter Thiel's backing, experienced remarkable IPO volatility, opening at $90.45 versus its $37 IPO price and closing at $68 after surging over 200%.
Concurrently, Ark divested 21,240 Shopify shares worth $3.2 million following the company's impressive Q2 results showing 31% revenue growth to $2.68 billion, which exceeded analyst expectations.
Original Article
benzinga.comhttps://www.benzinga.com/etfs/broad-u-s-equity-etfs/25/08/47111677/cathie-wood-pounces-on-peter-thiel-backed-bullish-stock-after-wild-ipo-surge-ark-buys-