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

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Rachit Vats
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Cathie Wood-led Ark Investment Management on Tuesday snapped up another 236,348 shares of cryptocurrency exchange Coinbase Global Inc (NASDAQ: 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 (NYSE: ARKK) bought 184,175 shares of the cryptocurrency exchange desk, representing 0.26% of the ETF. The ARK Next Generation Internet ETF (NYSE: 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 (NYSE: 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 (NASDAQ: 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 (BATS: ARKQ), and Ark Fintech Innovation ETF (NYSE: 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 (NYSE: 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 (NASDAQ: JD)

  • Opendoor Technologies (NASDAQ: OPEN)

  • Pinduoduo (NASDAQ: PDD)

  • Recursion Pharmaceuticals (NASDAQ: RXRX)

  • Ionis Pharmaceuticals (NASDAQ: IONS)

  • Berkeley Lights (NASDAQ: BLI)

  • Beam Therapeutics (NASDAQ: BEAM)

  • TuSimple (NASDAQ: TSP)

  • Workhorse Group (NASDAQ: WKHS)

  • Jaws Spitfire Acquisition (NYSE: SPFR)

  • Niu Technologies (NASDAQ: NIU)

  • Iridium Communications (NASDAQ: IRDM)

  • 3D Systems (NYSE: DDD)

  • Tencent (OTC: TCEHY)

  • Roblox (NASDAQ: RBLX)

  • Peloton Interactive (NASDAQ: PTON)

  • Okta (NASDAQ: OKTA)

  • Reinvent Technology Partners (NYSE: RTP)

Other Ark Sells On Tuesday:

  • LendingTree (NASDAQ: TREE)

  • Novartis (NYSE: NVS)

  • Roche (OTC: RHHBY)

  • Thermo Fisher Scientific (NYSE: TMO)

  • Twitter (NYSE: TWTR)

  • Roku (NASDAQ: ROKU)

  • PACCAR (NASDAQ: PCAR)

  • Taiwan Semiconductor Manufacturing (NYSE: TSM)

  • Xlinx (NASDAQ: XLNX)

  • Pure Storage (NYSE: PSTG)

  • Intercontinental Exchange (NYSE: ICE)

Photo by World Poker Tour on Flickr

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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