Cathie Wood Adds to Block, Coinbase Stakes as Shares Tumble (1)

Cathie Wood snapped up more shares of Block Inc. and Coinbase Global Inc. as turmoil engulfed both companies Thursday.

The daily trading report from Wood’s firm ARK Investment Management showed that three of its exchange-traded funds bought about 338,000 shares of Block in the session, during which the payments firm plunged 15% after becoming the target of activist short seller Hindenburg Research.

At the same time, two of the funds added a combined 269,000 shares of Coinbase, which slumped 14% after disclosing it faces potential regulatory action from the Securities and Exchange Commission. Both companies are among Wood’s top holdings. ...