Cathie Wood Suffers Double Blow as Drama Hits Coinbase and Block
- Two companies among top 10 holdings in flagship fund ARKK
- Block fell 15% Thursday after short attack by Hindenburg
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An activist short seller attack on one US firm and the threat of regulatory action against another have conspired to deal a double blow to Cathie Wood and ARK Investment Management, as both shares are among her top holdings.
Block Inc. and Coinbase Global Inc. are long-time favorites of Wood. As recently as Wednesday, the ARK Innovation ETF (ticker ARKK) bought more shares of Jack Dorsey-led Block.