Ark Invest Buys $30.5M Circle Shares as Stock Falls 12%

Ark Invest purchased $30.5 million worth of Circle Internet (CRCL) shares as the company's stock price fell by 12%, closing at $86.30, marking its largest decline since June. The decline followed the release of the company's third-quarter earnings report, which raised concerns about potential revenue effects due to looming interest rate cuts in the U.S. Despite earnings per share exceeding analysts' estimates at 64 cents, fears of reduced returns led to the stock's downturn. Ark Invest acquired a total of 353,328 shares across its exchange-traded funds: Innovation (ARKK), Next Generation Internet (ARKW), and Fintech Innovation (ARKF). This strategic investment reflects Ark's trend of seizing opportunities during stock price dips.

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