on thursday cathie woodled ark invest made a significant purchase of sofi technologies inc sofi shares amidst a volatile market environment for the company this move comes in the wake of morgan stanley’s recent downgrade of sofi citing overly optimistic expectations for the company’s banking business ark invest through its ark fintech innovation etf arkf fund purchased 133191 shares of sofi technologies the transaction was valued at 12 million based on the stock’s closing price of 909 this decision comes despite morgan stanley’s analyst jeffrey adelson expressing concerns about the company’s banking business suggesting it might not yield as high returns as initially anticipated see also cathie wood’s ark invest continues to sell shares of warren buffettbacked byd coinbase holdings these trades reflect ark invest’s ongoing strategy of investing in innovative companies while also adjusting its holdings based on market trends and company performance read next sofi technologies has backend risks it’s difficult to justify owning it analyst