Summary
- ARK Invest reportedly additionally purchased Bullish shares worth US$10.2 million.
- The purchase was made ahead of Bullish's third-quarter earnings announcement, and it reported that second-quarter net profit turned positive.
- It reported that despite Bullish's stock price falling 46% over six months, investment in cryptocurrency-related stocks continues.
'Money Tree Sister' Cathie Wood-led ARK Invest has increased its investment in the cryptocurrency exchange Bullish.
According to Cointelegraph on the 18th (local time), ARK Invest on the previous day (17th) additionally purchased Bullish shares worth US$10.2 million (about 15 billion won) through exchange-traded funds (ETFs) and others. Cointelegraph reported, "This purchase was made ahead of Bullish's third-quarter earnings announcement scheduled for the 19th," and added, "Bullish's revenue in the second quarter this year decreased, but net profit returned to the black."
ARK Invest's purchase drew attention as Bullish's stock price has recently struggled. Cointelegraph said, "Cryptocurrency-related stocks have seen a sharp decline due to the recent market crash," and "Bullish's stock price has fallen by nearly 46% over the past six months."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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