Cathie Wood Buys The Dip In Tempus AI, Coinbase But Sells Ark's Bitcoin ETF Shares Amid Crypto Meltdown

On Tuesday, Cathie Wood-led Ark Invest made some significant trades, most notably buying into Tempus AI Inc. TEM and Coinbase Global Inc. COIN, while selling shares of ARK 21Shares Bitcoin ETF ARKB.

The Tempus AI Trade

Ark Invest purchased a significant number of shares of Tempus AI, despite the company’s stock tumbling after reporting mixed fourth-quarter financial results. The firm’s ARK Genomic Revolution ETF ARKG bought 78,570 shares, while the ARK Innovation ETF ARKK acquired a whopping 367,388 shares. The total value of these trades, calculated from the latest closing price of $59.10, is nearly $26.35 million.

According to a Benzinga report, Tempus AI’s revenue was up 35.8% year-over-year, with data and services revenue growing 44.6% to $80.2 million. Genomics revenue grew 30.6% year-over-year to $120.4 million, and unit growth came in at 22.5%.

The Coinbase Trade

Ark Invest also bought into Coinbase, with its ARK Next Generation Internet ETF ARKW purchasing 41,032 shares. This move comes after the Securities and Exchange Commission (SEC) announced plans to drop its lawsuit against the crypto exchange, a case that had been ongoing for nearly two years.

On Tuesday, Coinbase shares ended the day at $212.49, the Ark trade was valued at $8.7 million.

The ARK Bitcoin ETF Trade

Interestingly, while Ark Invest bought into Coinbase, it sold off its stake in the ARK 21Shares Bitcoin ETF. The ARKW fund sold 98,060 shares of ARKB. This move coincides with a 9% correction in the total crypto market capitalization, as reported by Benzinga. Amid the decline, the apex cryptocurrency, Bitcoin BTC/USD retreated to three-month lows.

ARKB shares ended the day at $87.86. The Ark transaction was valued at $8.6 million based on the closing price.

Other Key Trades:

Ark Invest’s ARK Fintech Innovation ETF (ARKF) and ARKK sold 70,367 and 49,782 shares of Draftkings Inc. (DKNG) respectively. ARKF purchased 20,174 shares of Kaspi.kz AO (KSPI).
The firm’s ARKG fund sold 850,919 shares of Accolade Inc. (ACCD) and bought 103,430 shares of Recursion Pharmaceuticals Inc. (RXRX) and 97,505 shares of Absci Corp (ABSI).
ARKK sold 107,159 shares of Roku Inc. (ROKU) and 430,483 shares of SoFi Technologies Inc. (SOFI) while buying 39,418 shares of Iridium Communications Inc. (IRDM).