Cathie Wood's ARK ETFs have made significant trades on Thursday, May 9th, 2024, with the purchase of Roblox Corp (NYSE:RBLX) and the sale of Teladoc Health Inc (NYSE:TDOC) and Exact Sciences Corp (NASDAQ:EXAS) standing out due to their high dollar values.
The largest acquisition for the day was Roblox Corp, with ARK buying a total of 1,724,213 shares across its ARKK, ARKW, and ARKF ETFs, amounting to a massive $67,296,031. This move indicates a strong bullish stance on the online gaming platform, which has been a popular pick for ARK in recent months.
On the selling side, ARK divested a significant portion of its holdings in Teladoc Health Inc, offloading 915,483 shares across four ETFs for a total of $11,168,892. This continues a recent trend of ARK reducing its position in the virtual healthcare company.
The second-largest sale was of Exact Sciences Corp, with ARK selling 827,780 shares through its ARKK and ARKG ETFs, totaling $49,236,354. This sale represents a considerable step back from the diagnostic company, which has been under ARK's radar in past trading sessions.
Other notable trades included the sale of 629,931 shares of DraftKings Inc (NASDAQ:DKNG) for $2,694,076 and the purchase of 60,541 shares of CRISPR Therapeutics AG (NASDAQ:CRSP) for $3,226,229, signaling ARK's continued interest in the gene-editing company.
Smaller trades, though still significant, included the sale of 5236 shares of Coinbase Global Inc (NASDAQ:COIN) for $1,105,843, and the purchase of 131,845 shares of Accolade Inc (NASDAQ:ACCD) for $938,736.
ARK also bought shares of Adaptive Biotechnologies Corp (NASDAQ:ADPT), Intellia Therapeutics Inc (NASDAQ:NTLA), and Veracyte Inc (NASDAQ:VCYT), with total dollar values of $96,026, $1,412,016, and $1,100,322 respectively.
Conversely, ARK offloaded shares of AeroVironment Inc (NASDAQ:AVAV), Global-E Online Ltd (NASDAQ:GLBE), Verve Therapeutics Inc (NASDAQ:VERV), VELO3D Inc (NYSE:VLD), and Zoom Video Communications Inc (NASDAQ:ZM) for various amounts, the latter of which totaled $12,767,863.
These trades reflect ARK's ongoing strategy adjustments and provide a glimpse into Cathie Wood's current investment thinking. Investors and market watchers closely follow these daily trade reports to understand ARK's dynamic approach to portfolio management.
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