On Thursday, Cathie Wood-led Ark Invest made notable trades, prominently featuring Tempus AI Inc and Coinbase Global Inc. The trades came as Wall Streetreversed Wednesday's rallywith a sharp selloff, as cooling inflation and hopes for Fed cuts were overshadowed by economic uncertainty and a 145% China tariff announcement by the Trump administration.
The Tempus AI Trade
Ark Invest’s flagship fund, the ARK Innovation ETF, acquired 48,909 shares of Tempus AI Inc., valued at approximately $1.97 million based on the closing price of $40.29.
Tempus AI has been gaining attention for its advancements in AI-driven healthcare solutions. Ark has been trading shares of the company actively. Last week, it scooped up stock worth $1.74 million.
The Coinbase Trade
In another significant move, ARKK purchased 11,849 shares of Coinbase Global Inc., amounting to approximately $2.01 million based on the closing price of $169.62. This acquisition comes at a time when the regulatory landscape for cryptocurrency trading in the U.S. is evolving, potentially making crypto leverage tradingmore accessibleto retail investors.
Coinbase, a leading cryptocurrency exchange, has announced plans to introduce a first-of-its-kind perpetual-style product in the U.S. and is also reportedly in talks to acquire crypto derivatives exchange Deribit.
Other Key Trades:
ARKK bought 135,247 shares of Beam Therapeutics Inc..
ARKG sold 33,500 shares of Repare Therapeutics Inc..
ARKK acquired 191,500 shares of 10X Genomics Inc..
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