While headlines cried about stock market carnage on Monday, Cathie Wood was very active buyer. Her Ark Invest firm loaded up on the likes of Amazon stock, Coinbase and Robinhood on Tuesday and Wednesday. It unloaded shares of Block (SQ) and Zoom (ZM).
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Wood and the Ark Invest fleet of funds were highly active, from their flagship ARK Innovation ETF (ARKK) across the ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Next Generation Internet ETF (ARKW), ARK Fintech Innovation ETF (ARKF) and the ARK Genomic Revolution ETF (ARKG), according to daily trade updates from the firm.
Amazon.com (AMZN) was the top buy for Wood and Ark on Monday. Across the funds, the firm purchased a total of 174,498 shares of Amazon stock worth nearly $28.1 million based on Monday's 161.02 closing price. The firm snagged another $7.15 million worth of Amazon shares Tuesday.
Crypto markets were another target. Ark Invest purchased $17.78 million worth of Coinbase (COIN) as it added 93,797 shares of the crypto exchange Monday. The firm also bought 681,885 shares of Robinhood (HOOD) worth roughly $11.2 million. On Tuesday, Ark purchased another $3.86 million in COIN stock and about $2.1 million in Robinhood.
Wood added more than 12,000 shares of Meta Platforms (META) and Tesla (TSLA) on Monday, worth $5.96 million and $2.47 million, respectively. Ark didn't buy any additional Meta or Tesla stock Tuesday, but it did purchase $6.97 million in Crispr Therapeutics (CRSP).
Ark loaded up on more than $1.2 million worth of DraftKings (DKNG) and Palantir Technologies (PLTR) each Monday. The firm on Monday bought about $1.8 million of Roku (ROKU) and added another $10.43 million in shares Tuesday.
Wood also added $2.46 million in Tempus AI (TEM) shares and $3.4 million in Advanced Micro Devices (AMD). On Tuesday, Ark bought $1.5 million in Tempus AI. Advanced Micro Devices was Wood's top purchase Tuesday as her firm added another $13.67 million worth of stock.
Cathie Wood's Top Sales
But it wasn't just buying, Wood also joined in on Monday's selloff.
The firm unloaded 454,775 shares of Block shares, worth $26 million based on Monday's closing price of 57.21. Wood sold more than $14 million worth of both Zoom and UiPath (PATH), as well as $4.2 million of Teladoc Health (TDOC).
Ark also sold $3.4 million of ProShares Ether Strategy ETF (EETH) shares as ethereum carved lower with cryptocurrency prices.
Wood on Tuesday sold $21.18 million in Zoom shares, making it the top sale of the day. The firm sold $16.39 million in Block shares. Ark shed another $5.3 million in UiPath stock Tuesday and $4.36 million in Teledoc shares.
You can follow Harrison Miller for more stock news and updates on X/Twitter@IBD_Harrison
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