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 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 ARKK bought 184,175 shares of the cryptocurrency exchange desk, representing 0.26% of the ETF. The ARK Next Generation Internet ETF 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 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 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 ARKQ, and Ark Fintech Innovation ETF 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 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 JD 
  • Opendoor Technologies OPEN 
  • Pinduoduo PDD 
  • Recursion Pharmaceuticals RXRX 
  • Ionis Pharmaceuticals IONS 
  • Berkeley Lights BLI 
  • Beam Therapeutics BEAM
  • TuSimple TSP
  • Workhorse Group WKHS
  • Jaws Spitfire Acquisition SPFR
  • Niu Technologies NIU
  • Iridium Communications IRDM
  • 3D Systems DDD 
  • Tencent TCEHY
  • Roblox RBLX 
  • Peloton Interactive PTON 
  • Okta OKTA
  • Reinvent Technology Partners RTP

Other Ark Sells On Tuesday:

  • LendingTree TREE 
  • Novartis NVS 
  • Roche RHHBY 
  • Thermo Fisher Scientific TMO
  • Twitter TWTR 
  • Roku ROKU 
  • Taiwan Semiconductor Manufacturing TSM 
  • Xlinx XLNX 
  • Pure Storage PSTG 
  • Intercontinental Exchange ICE

Photo by World Poker Tour on Flickr

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