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

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