Cathie Wood's Ark Invest Adds Over 150K Coinbase Stock Amid Red Hot Inflation

Cathie Wood’s investment management firm Ark Invest has once again made a big purchase of Coinbase stocks after the COIN price fell below $58 on Friday. The NASDAQ-listed Coinbase price fell after the Core PCE inflation in the U.S. came in at 0.6% for January, above market estimates of 0.4%. The U.S. Federal Reserve’s preferred gauge to measure inflation rose by 4.7%, pointing to higher rate hikes in March.