Ark Invest Increases Investment in Bullish
Investment firm ARK Invest, led by Cathie Wood, has purchased around $4.4 million worth of shares in Bullish this week. The purchases were made through three major ETFs, including ARKK, ARKW, and ARKF.
Bullish Stock Rebounds After Recent Decline
Bullish shares dropped 15.4% over the past five trading days before recovering slightly on Tuesday. The stock gained 1.88% and closed at $36.23. Despite the rebound, Bullish shares are still down 16.7% over the last month.
Ark Invest Adds More Than 120,000 Shares
According to Ark Invest’s trading reports, the company bought 52,308 Bullish shares on Monday and another 69,712 shares on Tuesday. Ark regularly adjusts its ETF holdings to prevent any single stock from exceeding 10% of a portfolio.
Bullish Reports Mixed Quarterly Results
Bullish recently posted mixed first-quarter earnings. The company reported a net loss of $604.9 million, which was significantly higher than last year. However, adjusted revenue increased to $92.8 million compared to $62.4 million a year earlier.
