Cathie Wood’s Ark Invest has acquired $30.5 million worth of Circle shares across three flagship ETFs, turning a post-earnings dip into a golden opportunity.
Despite a 12.2% drop that closed Circle $86.3, Ark’s strategic buys signal their faith in Circle’s potential.
The purchase of $30.5 million Circle shares
The ARK Innovation ETF (ARKK) scooped up 245,830, while the ARK Next Generation Internet ETF (ARKW) added 70,613 Circle shares to its arsenal.
Meanwhile, the ARK Fintech Innovation ETF (ARKF) seized 36,885 Circle shares showcasing Ark’s aggressive stance on Circle.
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Circle’s third-quarter triumph of $740 million in revenue (up 66% year-over-year) and net income soaring 202% to $214 million highlights the explosive growth of Circle, with USDC circulation rocketing 108% to $73.7 billion.
William Blair is an analyst who urged investors to “build positions on weakness” referring to Circle.
“We see Circle as a clear leader in a winner-take-most market,” he said.
As far as we can see, Circle’s momentum is unstoppable, especially with them teasing a native token soon and launching Arc public testnet for its Layer 1 stablecoin-centric chain.
Circle stands strong as if to say, true leaders don’t just weather storms; they emerge stronger.
