Cathie Wood’s Ark Invest Acquires $10M Bullish Shares Before Q3 Results

Key Highlights:

Ark Invest, led by CEO Cathie Wood, purchased nearly $10 million worth of Bullish (BLSH) stocks despite a 50% price drop since its August listing.
ARK Invest funds increased their holdings in BLSH: ARKK bought 191,195 shares, ARKW added 56,660 shares, and ARKF acquired 29,208 shares.
BLSH's stock ended down 4.5% on Monday at $36.75, a significant decline from its initial high of $75.
This marks Ark Invest's third major purchase of BLSH in November, ahead of Bullish's Q3 results.
Bullish projects Q3 revenue between $69 million to $76 million, with transaction revenue estimated at $25.5 million to $28 million.
Growth driven by Liquidity Services and collaborations with Solana and stablecoin issuers.

Market Context:

The crypto market downturn continues, affecting stocks like Marathon Digital (MARA), Riot Platforms (RIOT), and CleanSpark (CLSK).
Michael Saylor’s Strategy (MSTR) declined another 2%, despite adding 8,178 Bitcoin to reserves.