Cathie Wood Buys Peloton, Coinbase Dips, Cuts Nvidia Stake

Cathie Wood-led Ark Investment Management on Monday snapped up shares of the exercise bike maker Peloton Interactive Inc PTON amid weakness related to a U.S. regulator calling for a large-scale product recall due to safety concerns.

PTON shares closed 7.3% lower at $107.75 on Monday. 

The ARK Next Generation Internet ETF ARKW bought 152,542 shares of the New York-based equipment maker, representing about 0.25% of the ETF. 

The ETF now owns 1.25 million shares of the stock valued at $134.18 million — making up about 1.97% of the fund’s assets.

The investment firm also bought 153,195 shares of the U.S. cryptocurrency exchange desk Coinbase Global Inc COIN, estimated to be worth about $51 million based on the stock’s Monday close at $333.

See Also: Why Cathie Wood Is Bullish On Crypto Play Silvergate Despite Recent Slump

The Ark Fintech Innovation ETF ARKF added 32,263 shares of the cryptocurrency company, representing about 0.26% of the ETF. The Ark Innovation ETF ARKK added another 70,073 shares, representing about 0.97% of the ETF and the ARK Next Generation Internet ETF ARKW bought 50,859 shares, representing about 0.25% of the ETF.

Coinbase shares have lost steam since their debut last Wednesday. Shares closed 2.63% lower at $333 on Monday, giving the cryptocurrency exchange a market cap of $65.52 billion.

See Also: Cathie Wood Trims Tesla Stake And Loads Up Heavily On Coinbase

The investment firm also sold a total of 88,601 shares of chipmaker Nvidia Corp NVDA valued at $54 million as of Monday’s close via three of its ETFs that include ARK Autonomous Technology & Robotics ETF ARKQArk Space Exploration & Innovation ETF ARKX and Ark Fintech Innovation ETF.

Nvidia shares closed 3.46% lower at $614.47 on Monday. 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.

Here are three other prominent Ark trades for Monday:

Trades for the ARK Autonomous Technology & Robotics ETF: 

Workhorse Group Inc WKHS: Bought 496,057 shares of the electric commercial vehicle maker, representing about 0.18% of the ETF.

Workhorse shares closed 4.76% lower at $12.60 on Monday and were further down 1.35% in extended hours. The stock has a 52-week high of $42.96 and low of $2.08.

Virgin Galactic Holdings Inc SPCE: Sold 315,600 shares of the spaceflight company, representing about 0.21% of the ETF.

Virgin Galactic shares closed 3.85% lower on Monday. It has a 52-week high of $62.80 and low of $14.21.

JD.com Inc JD: Bought 173,597 shares of the Chinese online e-commerce company, representing about 0.4% of the ETF.

JD.com stock closed 0.12% lower at $76.95 on Monday. It has a 52-week high of $108.29 and low of $40.58.

Trades for the Ark Space Exploration & Innovation ETF:

Virgin Galactic: Sold 275,204 shares of the spaceflight company, representing about 0.88% of the ETF.

Workhorse Group Inc: Bought 231,451 shares of the electric commercial vehicle maker, representing about 0.4% of the ETF.

JD.com Inc: Bought 44,313 shares of the Chinese online e-commerce company, representing about 0.497% of the ETF.

Netflix Inc NFLX: Bought 2,490 shares of the movie streaming company, representing about 0.199% of the ETF.

Netflix stock closed 1.45% higher at $554.44 on Monday. It has a 52-week high of $593.29 and low of $393.60.

Trades for the Ark Fintech Innovation ETF: 

JD.com Inc: Bought 107,260 shares of the Chinese online e-commerce company, representing about 0.19% of the ETF.

Pinduoduo Inc PDD: Bought 47,800 shares of the agriculture-focused technology platform in China, representing about 0.15% of the ETF.

Pinduoduo stock closed 0.38% lower at $132.80 on Monday. It has a 52-week high of $212.6 and low of $42.7.

Other Ark Buys On Monday:

  • Opendoor Technologies Inc OPEN
  • Berkeley Lights Inc BLI 
  • CM Life Sciences Inc CMLF
  • 908 Devices Inc MASS
  • Recursion Pharmaceuticals Co RXRX
  • Beam Therapeutics Inc BEAM 
  • Exact Sciences Corp EXAS 
  • TuSimple Holdings Inc TSP
  • Unity Software Inc U 
  • 3D Systems Corp DDD 
  • Jaws Spitfire Acquisition Corp SPFR
  • Reinvent Technology Partners RTP

Other Ark Sells On Monday:

  • LendingTree Inc TREE
  • Roche Holding Ag RHHBY
  • Regeneron Pharmaceuticals Inc REGN
  • Phreesia Inc PHR
  • Novartis Ag NVS
  • Paccar Inc PCAR 
  • Taiwan Semiconductor Manufacturing Co TSM
  • AeroVironment Inc AVAV
  • Xilinx Inc XLNX
  • Pure Storage Inc PSTG
  • Intercontinental Exchange Inc ICE 
  • Synopsys Inc SNPS
  • Atlas Crest Investment Corp ACIC
  •  

Photo Courtesy: Peloton

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Posted In: ARK Investment ManagementBitcoinCathie WoodCryptocurrencySector ETFsSmall CapMarketsTrading IdeasETFs