ARK Invest purchased 239,083 shares of CoreWeave on September 17. The transaction was valued at approximately $19.2 million and reported on September 19.
The AI cloud provider's stock price has declined more than 13% over the last month. This purchase reverses a smaller sale of shares made by Cathie Wood’s funds three days earlier.
CoreWeave recently announced a $3 billion convertible senior notes offering. The company later upsized and priced that offering at $3.7 billion.
The firm also launched an at-the-market program to sell up to 35 million shares. These financing actions created the stock volatility that ARK Invest utilized for the purchase.