Cathie Wood's Ark Invest Goes Shopping For Moderna Stock — Sells DraftKings Shares Amid Quarterly Rise In Revenue, EPS Beat

On Thursday, Cathie Wood-led Ark Invest made notable adjustments to its holdings, with a significant sale of DraftKings Inc DKNG shares and the addition of Moderna Inc MRNA stock. This move comes amidst DraftKings’ positive earnings report and Moderna’s challenges with vaccine demand.

The DraftKings Trade: Despite a strong earnings report where DraftKings climbed on third-quarter revenue and EPS beat, Ark Invest divested a significant portion of its stake in the company.

Ark sold 74,926 shares, representing 0.0354% of the ARK Innovation ETF ARKK. The transaction was valued at $2.2 million, based on the stock’s closing price of $28.98 on Thursday.

Moderna’s Market Maneuver: Meanwhile, Ark Invest bolstered its position in Moderna, purchasing 83,344 shares worth $5.9 million based on the stock’s closing price of $71.23 through ARK Genomic Revolution ETF ARKG. This decision aligns with the biotech firm’s forecast for growth resurgence by 2025, despite current hurdles in vaccine demand.

See Also: Cathie Wood-Led ARKK Struggles To Hold Steady Amid Tesla’s Slide

Other Key Trades:

• Sold 1,320 shares of NVIDIA Corp NVDA, which is 0.0398% of the ARKG ETF.
• Reduced position in Ionis Pharmaceuticals Inc IONS by selling 73,290 shares, equating to 0.2247% of the ARKG ETF.
• Trimmed holdings in General Motors Co GM by offloading 691 shares, a minor 0.0023% of the ARK Autonomous Technology & Robotics ETF ARKQ.

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