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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Cathie Wood-led Ark Investment Management snapped up over 3 million shares, worth about $48.53 million, in Skillz Inc (NYSE:SKLZ) on Wednesday.
SKLZ shares closed 9% lower at $15.48 on Wednesday and were down 1% in after-hours trading in the aftermath of the company reporting a wider quarterly loss alongside a surge in revenue.
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Ark owned about 12.9 million shares in Skillz divided between the ARK Innovation ETF (NYSE:ARKK) and Ark Next Generation Internet ETF (NYSE:ARKW) ahead of Wednesday's trade, worth about $263.98 million.
The New York-based hedge fund had last week come out in support of the company amid short-seller allegations related to its revenue recognition practices and the NFL partnership.
See Also: Cathie Wood Loaded Up Further On Skillz On Earnings Day
The investment firm also bought 325,805 shares, worth about $51.15 million, in Teladoc Health Inc (NYSE:TDOC), a telemedicine company.
The hedge fund bought the shares of the New York-based company via three of its funds — the Ark Genomic Revolution ETF (BATS:ARKG), ARKK and ARKW.
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Teladoc is ARKG’s largest investment among a portfolio of 60 stocks and represented a weight of 7.07% ahead of Wednesday’s trade. Teladoc is also ARKK's second-largest investment just below Tesla Inc (NASDAQ:TSLA).
Wood’s firm also leveraged the dip in exercise bike maker Peloton Interactive Inc (NASDAQ:PTON) to snap up 140,904 shares, worth about $11.6 million.
The shares of the company closed 15% lower at $82.62 on Wednesday after the company issued a recall of its Tread and Tread+ treadmills. The stock was further down 1.72% in extended hours.
See Also: Peloton Plummets On Treadmill Recall: How Does The Stock Chart Look?
Other Ark Buys On Wednesday:
- Exact Sciences (NASDAQ:EXAS)
- Ionis Pharmaceuticals Inc (NASDAQ:IONS)
- 908 Devices (NASDAQ:MASS)
- Invitae Corp (NYSE:NVTA)
- Surface Oncology Corp (NASDAQ:SURF)
- Repare Therapeutics Inc (NASDAQ:RPTX)
- UiPath Inc (NYSE:PATH)
- Twilio Inc (NYSE:TWLO)
- Draftkings Inc (NASDAQ:DKNG)
- Experience Investment Corp (NASDAQ:EXPC)
- JD.com (NASDAQ:JD)
- Vuzix Corp (NASDAQ:VUZI)
Other Ark Sells On Wednesday:
- Takeda Pharmaceutical Co Ltd (NYSE:TAK)
- Roche Holding Ag (OTC:RHHBY)
- Syros Pharmaceuticals Inc (NASDAQ:SYRS)
- Regeneron Pharmaceuticals Inc (NASDAQ:REGN)
- Pluristem Therapeutics (NASDAQ:PSTI)
- Phreesia (NYSE:PHR)
- LendingTree Inc (NASDAQ:TREE)
- Synopsys Inc (NASDAQ:SNPS)
- Pure Storage Inc (NYSE:PSTG)
- Baidu Inc (NASDAQ:BIDU)
- Teledyne Technologies Inc (NYSE:TDY)
- Adyen NV (OTC:ADYEY)
- Trade Desk Inc (NASDAQ:TTD)
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.