Cathie Wood’s Ark Invest Acquires $7.3M Worth Of Shares In This Promising Netflix Competitor, Sells Off Coinbase Stock Amid Bitcoin Slump – Roku (NASDAQ:ROKU), Coinbase Glb (NASDAQ:COIN)
On Wednesday, Cathie Wood’s Ark Invest made significant trades in Roku Inc (ROKU) and Coinbase Global Inc (COIN) amidst a volatile market. These trades were part of transactions carried out by Ark’s various ETFs.
The ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW) purchased 127,540 shares in Roku Inc, with ARKK acquiring 106,420 shares and ARKW adding 21,120 shares. The transaction totaled $7.3 million, and Roku shares closed 4.6% higher at $57.16 on Wednesday.
Ark Invest’s ARKW ETF sold 3,278 shares of Coinbase worth $703,393. This sale followed a significant transfer of cryptocurrency to Coinbase by wallets believed to be linked to the U.S. government, with 3,940 Bitcoin valued at $241 million being transferred.
In other trades, Ark Invest’s ARKG ETF sold shares of Ginkgo Bioworks Holdings Inc (DNA) and bought shares of 10X Genomics Inc (TXG). The fund also sold shares of Teladoc Health Inc (TDOC) and bought shares of Intellia Therapeutics Inc (NTLA).
Overall, these trades reflect Ark Invest’s active management strategy in response to market developments.