Cathie Wood's ARK Investment buys 221.6K shares of PagerDuty today
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Peter Thiel-Backed Crypto Firm Bullish Aims to Raise $629M in IPO
Key Takeaways Cryptocurrency exchange Bullish plans an initial public offering, targeting a valuation of more than $4 billion. The company backed by billionaire Peter Thiel expects to sell 2.3 million shares at $28 to $31 each. BlackRock and Cathie Wood's ARK Investment Management have already agreed to invest in the cryptocurrency exchange backed by billionaire Peter Thiel, said it would be seeking a valuation of more than $4 billion in an initial public offering (IPO). In a regulatory filing Monday, the company said it would be offering for sale 20.3 million shares at a price range of $28 to $31 each, or as much as $629.3 million. In addition, the underwriters have 30 days from the publication of the prospectus to purchase another 3.045 million shares. Bullish added that it planned to initiate the IPO "as soon as practicable after this Registration Statement becomes effective." It noted that BlackRock (BLK) and Cathie Wood's ARK Investment Management have already agreed to purchase a total of $200 million worth of shares. Bullish said it has applied to list on the New York Stock Exchange under the ticker symbol "BLSH." In its prospectus, the company reported its first-quarter trading volume grew 78% from 2024, and it had an average daily volume of $2.55 billion. Bullish also owns the CoinDesk crypto media site. CEO Tom Farley said that "the digital assets industry is at the inflection point of institutional adoption and Bullish is uniquely positioned at the center of this market." Read the original article on Investopedia Sign in to access your portfolio
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Cathie Wood dumps $1.3M in Robinhood to buy top AI stocks
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Cathie Wood is Buying Figma Stock with Both Hands. Should You Buy This Hot IPO, Too?
Cathie Wood and Ark Invest have officially jumped into the Figma (FIG) IPO frenzy, snapping up 60,000 shares of the San Francisco-based software firm and allocating the entire purchase to the ARK Next Generation Internet ETF (ARKW). The move reflects Wood's signature strategy of targeting disruptive, high-growth technology names. FIG debuted on the New York Stock Exchange last week and quickly soared over 200%, surpassing $105 per share. By the end of its first trading day, the stock closed at $115.50, marking a noteworthy 250% gain. The momentum continued on Friday, with shares rising another 5.8% despite broader market weakness, before a 27% stock slump on Monday. More News from Barchart Dear Nvidia Stock Fans, Mark Your Calendars for August 27 Options Traders Expected Palantir Stock's Tamest Earnings Reaction in a Year. Did They Get It Right? Tesla Gains on Elon Musk's New Pay Package. Is TSLA Stock a Buy? Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! In pre-market action today, FIG is pointed higher again, as investors seem ready to buy the dip. About Figma The IPO represents a remarkable milestone for a company that almost had a very different fate. Adobe (ADBE) tried to buy the company for $20 billion in 2022, but after U.K. regulators said the acquisition would likely harm competition, the deal fell apart the following year. That regulatory intervention now looks like a blessing in disguise for shareholders. Founded in 2012 by CEO Dylan Field, Figma has emerged as a leader in collaborative design software. The company boasts more than 13 million monthly users, two-thirds of whom are not designers, with major clients including Google (GOOG) (GOOGL), Microsoft (MSFT), Netflix (NFLX), and Uber (UBER) paying upward of $100,000 annually. This broad adoption reflects Figma's evolution beyond traditional design into comprehensive product development. Field's journey from college dropout to billionaire mirrors other tech luminaries, though colleagues describe him as remarkably humble. Field was part of the second batch of Thiel fellows, a group of 20 entrepreneurs who each took home $100,000 after leaving Brown University. Should You Follow Cathie Wood's Lead and Buy Figma Stock? Wood's swift investment signals confidence in Figma's potential in the collaborative design space. However, investors should consider the massive first-day pop as both an opportunity and a warning. While the IPO market appears to be reopening after years of dormancy, such dramatic gains often reflect pricing inefficiencies rather than sustainable value creation. For now, it remains to be seen whether Wood will expand her Figma position through other flagship funds like the Ark Innovation ETF (ARKK). Figma reported revenue of $749 million in 2024, an increase of 48% year over year. The momentum continued into 2025, with Q1 revenue of $228.2 million representing 46% growth. Most impressively, Figma achieved a four-year compounded annual revenue growth rate of 53%. Figma's Market Dominance is Attractive Figma's enterprise penetration tells a compelling story: 95% of Fortune 500 companies and 78% of Forbes Global 2000 used the platform in March 2025. It maintains strong customer loyalty with a net dollar retention rate of 132%, indicating existing customers are expanding their usage. The integration of AI features like Figma Make demonstrates the company's innovation leadership. This tool transforms conversational prompts into working prototypes within minutes, positioning Figma at the forefront of AI-powered design automation. Today, Figma estimates its total addressable market at $33 billion, driven by explosive software growth. Gartner forecasts worldwide software spending will exceed $1.2 trillion in 2025. With over 250,000 community resources and 10,000 plugins expanding the platform's capabilities, Figma has created a robust ecosystem. As generative AI makes digital products more ubiquitous and IDC estimates over 1 billion new apps by 2028, Figma appears well-positioned to capture significant market share in the expanding digital economy. On the date of publication, Aditya Raghunath did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
