Cathie Wood Defies CoreWeave IPO Slump, Ark Snaps Up $3.6 Million Worth Of Stock In Nvidia-Backed Company
Benzinga (Mon, 31-Mar 10:00 PM)
On Monday, Cathie Wood-led Ark Invest made notable trades in CoreWeave Inc. (NASDAQ:CRWV) and Robinhood Markets Inc. (NASDAQ:HOOD), according to the firm’s daily trade data.
The CoreWeave Trade: The ARK Next Generation Internet ETF (NYSE:ARKW) bought 98,159 shares of CoreWeave, a company that recently had a challenging IPO. The Nvidia-backed company struggled to meet its fundraising target, settling for $1.5 billion instead of the initially aimed $2.7 billion. Despite generating $1.9 billion in revenue last year, the company remains unprofitable and carries $7 billion in debt. The value of this trade, based on the last closing ...
