Cathie Wood Just Bought 1.9 Million Shares of SoFi Stock

SoFi (NASDAQ:SOFI) stock is in the spotlight following buys from Cathie Wood’s Ark Invest. On March 4, the Ark Fintech Innovation ETF (NYSEARCA:ARKF) disclosed that it had acquired 782,646 shares of SoFi. However, shares of the company plummeted lower by about 15% the next day after SoFi announced a $750 million convertible senior note offering and the exchange of approximately 61.71 million shares for $600 million of 0% convertible senior notes due in 2026. Barron’s noted that the decline was SoFi’s worst ...