Cathie Wood’s Ark Invest snaps up $3m in Coinbase shares amid sell-off

Even as 2022’s stock rout deepens, hitting her own fund particularly hard, Ark Investment Management founder and CEO Cathie Wood is moving forward undeterred with her now-controversial stock-picking strategy.

The technology-focused firm purchased 546,579 shares of crypto exchange Coinbase (COIN) worth about $3 million on Wednesday, a daily trade report published by the firm showed. Wood’s Ark snapped up the stock even as Coinbase’s shares tumbled roughly 30% after unveiling financial…

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