Fisher Asset Management Buys into Cathie Wood's Top Holdings
Billionaire Ken Fisher's investment firm, Fisher Asset Management, has been buying shares of two stocks that are part of Cathie Wood's ARK Investment Management portfolio. The firm purchased 77,960 CRISPR Therapeutics (NASDAQ: CRSP) shares valued at about $4.25 million as of June 30 and 9,714 Coinbase Global (NASDAQ: COIN) shares worth around $1.42 million.
CRISPR Therapeutics is one of the largest holdings in Wood's portfolio, and its stock price has been impacted by a broader decline in the biotech sector. However, CRISPR Therapeutics has been working on developing innovative gene therapies, which could potentially drive growth in the future.
Coinbase Global, on the other hand, is a cryptocurrency exchange that has seen significant volatility in its stock price this year, with COIN down 15% so far. However, analysts believe that Coinbase's market share and diversification efforts could help it recover in the coming months.