Cathie Wood's Ark Invest Purchases Nearly $17M Worth Of Roku Shares, Sells Coinbase, Robinhood Stock

On Tuesday, Cathie Wood-led Ark Invest made a significant purchase of Roku Inc ROKU shares. This decision comes amidst a period of market volatility and recent bearish sentiments from analysts toward Roku’s revenue growth prospects.

The Roku Trade
Ark Invest’s acquisition of Roku shares stands out as the day’s most notable transaction. The investment firm purchased $16.9 million of Roku stock across multiple funds, including Ark Fintech Innovation ETF ARKF, ARK Innovation ETF ARKK, and ARK Next Generation Internet ETF ARKW. On Tuesday, Roku stock closed 2.9% lower at $89.

This move is particularly intriguing given the recent skepticism from analysts regarding Roku’s economic viability in the face of stiff competition and a challenging advertising market.

Other Key Trades:

• Sold shares of Coinbase Global Inc COIN across ARKF, ARKK, and ARKW funds worth $527,116.
• Bought shares of Recursion Pharmaceuticals RXRX in the ARKK fund.
• Sold shares of Exact Sciences Corp EXAS in the ARKK fund.
• Bought shares of Rocket Lab USA Inc RKLB in the ARKQ fund.
• Sold shares of Stratasys Ltd SSYS in both ARKQ and ARKX funds.
• Sold shares of Robinhood Markets Inc HOOD in the ARKW fund worth $292,006.

See Also: Cathie Wood, Elon Musk To Talk AI, Space, And More On X Spaces This Week

Ark Invest’s trading activities, particularly in the tech sector, have been closely monitored by investors seeking insights into emerging trends and potential growth areas. The firm’s latest trades, especially the substantial investment in Roku, reflect its ongoing strategy of focusing on innovative companies poised for long-term growth.

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