ARK Invest capitalized on the stock market dip by purchasing 94,678 shares of Coinbase worth $30 million, as the stock plunged 16.7% on Friday, closing at $314.69. The firm also acquired 540,712 shares of BitMine Immersion Technologies, spending an estimated $17 million, amidst BMNR’s 8.55% drop to $31.68.

US stocks tumbled on Friday, with the Dow falling 542 points due to disappointing economic data. Only 73,000 jobs were added in July, below expectations. Bank stocks like JPMorgan and Bank of America dropped over 2%, reflecting concerns over a cooling economy. Industrial giants GE Aerospace and Caterpillar also closed lower.

Read more at Cointelegraph: ARK Invest Adds to Coinbase and BitMine Positions as Stocks Drop