Cathie Wood Loads Up On DraftKings, Coinbase, Palantir, Sells Nvidia, Square

Cathie Wood-led Ark Investment Management on Tuesday snapped up another 236,348 shares of cryptocurrency exchange Coinbase Global Inc COIN.

Coinbase has been in a free-fall mode since its blockbuster listing last Wednesday. Shares closed 3.66% lower at $320.82 on Tuesday, giving the cryptocurrency exchange a market cap of $63.91 billion.

Two of the investment firm’s flagship funds bought shares estimated to be worth $75.8 million on Tuesday's dip. 

The Ark Innovation ETF ARKK bought 184,175 shares of the cryptocurrency exchange desk, representing 0.26% of the ETF. The ARK Next Generation Internet ETF ARKW bought 52,173 shares, representing about 0.25% of the ETF.

See Also: Why Cathie Wood Is Bullish On Crypto Play Silvergate Despite Recent Slump

The New York-based firm also bought 1,146,771 shares of the tech billionaire Peter Thiel-backed data analytics firm Palantir Technologies Inc PLTR estimated to be worth $24.9 million based on its Tuesday’s close of $21.78.

The Ark Innovation ETF bought the shares representing 1% of the ETF.

The investment firm also bought over half a million shares estimated to be worth $28.86 million of the daily fantasy sports company DraftKings Inc DKNG.  

The Ark Innovation ETF bought 214,625 shares, representing 0.05% of the ETF and the ARK Next Generation Internet ETF bought 303,552 shares representing 0.25% of the ETF.

The investment firm also sold a total of 31,938 shares of chipmaker Nvidia Corp (NASDAQ: NVDA) valued at $19.38 million as of Tuesday’s close via two of its ETFs that include ARK Autonomous Technology & Robotics ETF ARKQ, and Ark Fintech Innovation ETF ARKF.

Nvidia shares closed 1.24% lower at $606.85 on Tuesday. It has a 52-week high of $648.57 and 52-week low of $267.11.

The UK government on Monday intervened in chipmaker's $40 billion takeover of chipmaker Arm on national security grounds, reported CNBC.

See Also: Cathie Wood Buys Peloton, Coinbase Dips, Cuts Nvidia Stake

Wood’s firm also sold 233,147 shared worth about $57.2 million of Square Inc SQ, one of its three top holdings.

ARKW sold 44,500 shares of the fintech company, representing 0.16% of the ETF. ARKK sold another 188,647shares, representing 0.197% of the ETF.

Other Ark Buys On Tuesday:

• JD.Com JD 
• Opendoor Technologies OPEN 
• Pinduoduo PDD 
• Recursion Pharmaceuticals RXRX 
• Ionis Pharmaceuticals IONS 
• Berkeley Lights BLI 
• Beam Therapeutics BEAM
• TuSimple TSP
• Workhorse Group WKHS
• Jaws Spitfire Acquisition SPFR
• Niu Technologies NIU
• Iridium Communications IRDM
• 3D Systems DDD 
• Tencent TCEHY
• Roblox RBLX 
• Peloton Interactive PTON 
• Okta OKTA
• Reinvent Technology Partners RTP
•  

Other Ark Sells On Tuesday:

• LendingTree TREE 
• Novartis NVS 
• Roche RHHBY 
• Thermo Fisher Scientific TMO
• Twitter TWTR 
• Roku ROKU 
• PACCAR PCAR 
• Taiwan Semiconductor Manufacturing TSM 
• Xlinx XLNX 
• Pure Storage PSTG 
• Intercontinental Exchange ICE

Photo by World Poker Tour on Flickr