Cathie Wood’s ARK Makes Big Trades, Swapping Meme Stocks for E-commerce Giants
ARK Invest, the investment firm founded by star stock-picker Cathie Wood, has made several significant trades in recent days, buying up shares of e-commerce giants Shopify and Reddit while selling off its positions in streaming service Roku and video game platform Roblox.
The moves come as Wood’s ARK Innovation ETF (ARKK) has been struggling in recent months, losing more than 50% of its value since its peak in February. The fund has been hit hard by the recent sell-off in growth stocks, which has seen many of its high-flying holdings lose significant value.
In a recent interview with Bloomberg, Wood said that she believes the recent sell-off in growth stocks is a buying opportunity. She said that she is still bullish on the long-term prospects of these companies and that she is using the recent dip to add to her positions.
Wood’s recent trades reflect her belief that the future of e-commerce is bright. Shopify is a leading provider of e-commerce software and services, while Reddit is a popular social media platform that has become increasingly important for e-commerce transactions.
Roku and Roblox, on the other hand, are more speculative investments. Roku is a streaming service that has been struggling to compete with larger rivals like Netflix and Disney+, while Roblox is a video game platform that has been popular with children and teenagers.
Wood’s decision to sell off her positions in Roku and Roblox suggests that she is becoming more cautious about the prospects of these companies. It also suggests that she is looking for more stable investments that can help to weather the current market volatility.
Only time will tell whether Wood’s recent trades will pay off. However, her track record of success suggests that she is a savvy investor who knows how to spot winning stocks.
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