Cathie Wood’s Ark Invest chases Circle (CRC) stock as it hits a two-month high
CoinDesk
Ark Invest purchased $5.5 million in Circle shares after the company reported strong first-quarter earnings, driving the stock to a two-month high.Summary
Cathie Wood’s Ark Invest acquired 41,904 shares of Circle Internet (CRCL) for $5.5 million across three of its ETFs. This investment followed a 16% rise in Circle's stock price to $131.76, marking its highest close since March 18, fueled by a positive first-quarter earnings report showing an EPS of 21 cents. Additionally, Circle recently announced a $222 million raise for its Arc blockchain via an ARC token presale. While Ark typically buys assets during price dips, this purchase represents a notable exception where the firm invested during a period of significant upward momentum.
(Source：CoinDesk)