Oh, Cathie Wood and her ARK Invest crew are at it again! 🚀 This time, they’ve scooped up more than 160,000 shares of Bullish, the crypto exchange that’s got everyone talking-or yawning, depending on the day. 🥱 In a filing that dropped faster than a crypto price chart, ARK revealed they dropped $8.21 million on Bullish shares across their ARKK and ARKW funds. That’s right, folks, they’re doubling down on the crypto rollercoaster! 🎢
So, what’s the damage? ARK now holds a cool $129 million worth of Bullish stock across ARKK, ARKW, and ARKF. 💸 But let’s not forget, they’ve been riding this Bullish since its NYSE debut last month, when they snagged 2.53 million shares worth $172 million. Talk about a grand entrance! 🎉
ARK’s Latest Buy: Rebuilding the Bullish Empire? 🏰
Earlier this month, ARK dropped $7.5 million on Bullish shares, and on Aug. 20, they threw another $21 million into the ring. But here’s the twist: despite all this buying, their total Bullish holdings are down to 2.52 million shares. Looks like they booked some profits while the getting was good and are now buying back in after the stock took a nosedive. 🪂
Bullish Stock: From Moon to Gutter? 🌕➡️🚽
Remember when Bullish (BLSH) hit $118 on its listing day, up 218% from its IPO price of $37? Good times. 🎊 But since its Aug. 13 debut, the stock has been on a one-way trip to Splitsville, closing Tuesday at $51.36-down 57% from its peak. Ouch. 😬 Revenue? Down 0.2% year-over-year. Operating income? Down 270%. Yikes. 🤦♂️
Bullish is set to release its Q2 results on Thursday, its first since going public. Will it be a redemption story or another chapter in the crypto tragedy? Stay tuned! 🍿
Analysts are as split as a banana in a Mel Brooks sketch. Jefferies says “hold,” JP Morgan and Bernstein are all “neutral,” but Cantor Fitzgerald is team “overweight,” betting Bullish will bounce back. 🤔
Meanwhile, ARK’s been on a crypto shopping spree. They grabbed $4.4 million in BitMine on Sept. 9, bringing their stash to 6.7 million shares worth $284 million. And let’s not forget their $193 million worth of Jack Dorsey’s Block shares. Cathie Wood’s crypto cart is looking mighty full! 🛒
So, is ARK’s Bullish bet a stroke of genius or a comedy of errors? Only time-and the crypto gods-will tell. 🎲🙏
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2025-09-17 09:51