Cathie Wood’s ARK Invest Reenters Circle with $46 Million Purchase Amid Stock Slide
Cathie Wood's ARK Invest has resumed its position in Circle (CRCL), acquiring 542,269 shares worth approximately $46 million over two trading sessions. The MOVE comes as Circle's stock continues to decline, trading at $86 and $82.30 during the purchase window. This marks ARK's first investment in Circle since June, when the firm offloaded 1.7 million shares at nearly $200 apiece, netting over $350 million.
Circle's stock has experienced significant volatility since its NYSE debut in June, peaking at $299 before plummeting below $100 this week. ARK's renewed interest signals confidence in the USDC issuer's long-term prospects, bringing its total holdings to 3.1 million shares valued at $256 million at current prices.