Cathie Wood-led Ark Investment Management on Thursday snapped up 255,478 shares, estimated to be worth about $62.4 million, in Coinbase Global Inc (NASDAQ: COIN), on the dip.
Shares of the cryptocurrency exchange fell 3.05% to $244.29 on Thursday.
Some analysts believe that the market is overdue for a sell-off. Holders of equities could be on the verge of losing a lot of money.
But investors can hedge their portfolios or even profit if the stock market heads lower.
Cathie Wood-led Ark Investment Management on Wednesday snapped up 110,731 shares, estimated to be worth about $71.38 million, in Tesla Inc (NASDAQ: TSLA) on the dip.
Many analysts are predicting there will soon be a correction in the market. They cite the high levels of inflation and the problems employers are having highering employees.
Cathie Wood-led Ark Investment Management on Tuesday snapped up 108,653 shares, estimated to be worth about $18.87 million, in the media and entertainment company Walt Disney Co (NYSE: DIS) on the dip.
Disney shares fell 1.93% to $173.69 on Tuesday.
Even with inflation moving higher, investors seeking income still have limited options. The interest rates that government and corporate bonds are paying are still well below their historical averages.