Ark Invest Buys Bullish Shares Despite 72% Post-IPO Drop
BLSH•Ark Invest initiated a position in Bullish, adding shares despite the stock’s 72% decline since its June IPO. Bullish joins Ark’s new holdings alongside SpaceX, trading 19% above its IPO price, and Generate Biomedicines, which remains above its February listing price.
1. Ark Invest Initiates Bullish Position
On Monday, Ark Invest purchased shares of Bullish (BLSH), marking its entry into the crypto exchange and media company. The stock has slumped 72% since its June IPO amid cryptocurrency market weakness, yet Ark’s move underscores confidence in a potential turnaround.
2. IPO Holdings Contrast
Bullish joins two other recent IPOs in Ark’s portfolio: SpaceX, trading 19% above its IPO price and set to join the Nasdaq-100, and Generate Biomedicines, which remains above its February listing price following early AI-driven drug discovery results.
