"Best Cathie Wood, quick to take the opportunity to buy various stocks."
Ark Invest, an investment management firm founded by Cathie Wood has bought $1.5 million worth of SoFi Technologies (SOFI) shares on November 29, 2023, the last day they announced their exit from the cryptocurrency market.
Through observations, Ark Invest bought 200,275 shares of SOFI worth $1.47 million for Ark Fintech Innovation ETF (ARKF) when SOFI's closing price was $7.35 per share.
Explained further, the purchase of SOFI shares by Ark Invest took place when SOFI officially announced its decision to end crypto services by December 19, 2023.
Following that, SOFI instructed its customers to transfer their crypto holdings to Blockchain.com's online digital asset wallet.
Please note that Ark Invest has been actively buying SOFI shares throughout the year following their successful acquisition of over 1 million SOFI worth $13 million.
SOFI shares have seen little volatility in 2023 where they soared to $11.45 in July after starting the year at just $4.50, but the stock gradually dipped below $7 in mid-November.
In addition to earning SOFI, Ark Invest which also bought shares of Robinhood (HOOD) has acquired 221,759 HOOD on 29 November 2023 after the platform plans to expand its business to the United Kingdom (UK).
While buying SOFI and HOOD, Ark Invest went on to sell 38,000 shares of Coinbase (COIN) worth nearly $5 million from the ARKF ETF in the last two days.
