Bullish Plunges After IPO, Cathie Wood Goes on a Buying Spree

TradingKey – Bullish has seen a post-IPO drawdown of over 50%, but Cathie Wood is doubling down with aggressive accumulation.

On Tuesday, September 16 (ET), Cathie Wood’s Ark Invest made another bold move, purchasing more than 1.6 million shares of Bullish (ticker: BLSH) for over $8 million. As of press time, Bullish shares have rebounded slightly, up 0.55% to $51.

Bullish Stock Price Chart – Source: TradingView

Bullish (BLSH) debuted on August 13, with its stock surging to a high of $118 on its first day of trading. Since then, the price has steadily declined, with a peak-to-trough drop of 56%. Throughout the downturn, Cathie Wood has continued to increase her stake.

On September 11, Ark Invest spent $1.77 million to acquire 34,000 shares of Bullish. Earlier, on August 19, the firm invested over $21 million to purchase 356,000 shares. The pattern is clear: as Bullish’s price falls, Cathie Wood is ramping up her buying activity.