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.
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.
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 ARKQ, Ark 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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