Circle · CoinDesk
Cathie Wood’s Ark Invest chases Circle stock as it hits a 2-month high
Compiled by KHAO Editorial — aggregated from 2 outlets. See llms.txt for citation guidance.
✓ KHAO Verified
Ark Invest bought $5.5 million worth of shares in Circle Internet (CRCL) on Monday as the stablecoin developer's stock pumped following its first-quarter earnings report.
Key facts
- CRCL shares rose 16% to $131.76, the highest closing price since March 18, after the company posted estimate-beating earnings per share (EPS) of 21 cents
- The purchase is Ark's first of Circle stock since March 24, when it bought $16.3 million worth as the shares slumped 20%
- Ark Invest bought $5.5 million worth of shares in Circle Internet (CRCL) on Monday as the stablecoin developer's stock pumped following its first-quarter earnings report
- Circle, whose USDC is the second-largest stablecoin, also revealed a $222 million raise for its Arc blockchain in a presale of the ARC token
Summary
The shares closed 16% higher at $131.76, the highest closing price since March 18, after the company posted estimate-beating earnings per share of 21 cents. The CRCL purchase is Ark's first since March 24, when it bought $16.3 million worth of the stock. The St. Petersburg, Florida-based investment manager added 41,904 shares across three of its exchange-traded funds (ETFs): Innovation (ARKK), Next Generation Internet (ARKW) and Blockchain and Fintech Innovation (ARKF).