The buying spree continues for investment star Cathie Wood, CEO of Ark Investment Management.
She sees the decline of young technology stocks as a buying opportunity and has been snapping them up in recent weeks.
On Feb. 17, Ark funds added shares to their previous positions of streaming platform Roku (ROKU) – Get Roku, Inc. Class A Report, online video game platform Roblox (RBLX) – Get Roblox Corp. Class A Report and video meeting platform Zoom Video Communications (ZM) – Get Zoom Video Communications, Inc. Class A Report.
To be sure, not all of Ark’s focus is on buying stocks. Also Thursday, it sold shares of social media titan Twitter (TWTR) – Get Twitter, Inc. Report and data-mining company Palantir Technologies (PLTR) – Get Palantir Technologies Inc. Class A Report.
Ark bought 70,647 shares of Roku, 58,004 in its flagship Ark Innovation ETF (ARKK) – Get ARK Innovation ETF Report and 12,643 in the Ark Next Generation Internet ETF (ARKW) – Get ARK Next Generation Internet ETF Report. The combined positions were worth $10.2 million at Thursday’s close and $7.4 million in recent trading.
Ark purchased 137,777 shares of Roblox, 106,101 in Ark Innovation ETF and 31,676 in Ark Next Generation. The combined stakes were worth $7.5 million as of Thursday’s close and $6.9 million in recent trading.
Ark snagged 54,334 shares of Zoom, 44,863 in Ark Innovation and 9,471 in Ark Next Generation. The combined holdings were worth $7 million at Thursday’s close and $6.9 million in recent trading.
Ark dumped 4,774,677 shares of Palantir, in five different funds, including Ark Innovation. That sum was worth $56.2 million as of Thursday’s close and $51.1 million in recent trading.
Ark Innovation unloaded 1,024 shares of Twitter worth $36,280 as of Thursday’s close and $35,267 in recent trading.
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Source: https://www.thestreet.com/investing/cathie-wood-ark-adds-roku-roblox-zoom?puc=yahoo&cm_ven=YAHOO&yptr=yahoo