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Cathie Wood's Ark Loads Up Another 1.2 Million Shares In Skillz, Also Adds Coinbase, DraftKings

April 23, 2021 3:01 am
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Cathie Wood's Ark Loads Up Another 1.2 Million Shares In Skillz, Also Adds Coinbase, DraftKings

Cathie Wood-led Ark Investment Management on Thursday snapped up 1.2 million shares of the mobile gaming company Skillz Inc (NYSE:SKLZ), its biggest trade of the day among a total of two dozen stocks that it bought and sold during the day.

The investment firm deployed the Ark Innovation ETF (NYSE:ARKK) to buy 1,222,207, shares estimated to be worth about $20 million based on Skillz Thursday close of $16.57.

The shares of the company, which was Benzinga’s “Prep Stock Of The Day” on Thursday, closed 1.13% lower on Thursday but were up 7.24% in the after-hours.

Skillz shares reached their all-time high of $46.30 on Feb. 10 but have been since on a downturn amid short-seller allegations. This week the stock made a breakaway signaling a bottom may have been found.

See Also: What Went Down With Skillz Stock Today?

Two of the New York-based investment firm’s flagship funds bought 250,471 shares, in total, of the cryptocurrency exchange Coinbase Global Inc (NASDAQ:COIN), worth about $7.35 million on Thursday’s dip.

Coinbase shares have been falling since its blockbuster debut a week ago and have come below the $300 levels after touching its all-time high of $429.54. Shares fell 5.92% to $293.45 on Thursday and were further down 1.69% in extended hours. 

ARKK bought 195,097 COIN shares representing about 0.25% of the ETF. The  Ark Next Generation Internet ETF (NYSE:ARKW) bought 55,374 COIN shares representing about 0.24% of the ETF.

See Also: Cathie Wood Loads Up Heavily On Debutant Uipath, Trims Tesla

The investment firm also sold 401,748 shares of the payments company Square Inc (NYSE:SQ), estimated to be worth $98.45 million as per Thursday’s close price.

Square is among Ark’s top three holdings.

ARKK sold 333,316 shares of Square representing 0.35% of the ETF and ARKW sold 68,432 shares representing 0.25% of the ETF.

The investment firm’s ARKW ETF sold 43,300 shares of the online signature services company Docusign Inc (NASDAQ:DOCU), representing 0.14% of the ETF worth about $9.5 million as of its Thursday’s close.

ARKW sold 7,200 shares of the online payment company PayPal Inc (NASDAQ:PYPL), representing about 0.03% of the ETF.

PayPal shares closed 0.99% lower at $262.27 on Thursday. It has a 52-week high of $309.14 and low of $109.91.

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

Other Ark Buys On Thursday:

  • Recursion Pharmaceuticals (NASDAQ:RXRX)
  • Ionis Pharmaceuticals (NASDAQ:IONS)
  • 908 Devices (NASDAQ:MASS
  • Iridium Communications (NASDAQ:IRDM
  • DraftKings (NASDAQ:DKNG
  • Beam Therapeutics (NASDAQ:BEAM)
  • Jaws Spitfire Acquisition (NYSE:SPFR)
  • Niu Technologies (NASDAQ:NIU)
  • 3D Systems (NYSE:DDD)
  • Tencent (OTC:TCEHY)
  • Pinduoduo (NASDAQ:PDD
  • Okta (NASDAQ:OKTA)

Other Ark Sells On Friday:

  • LendingTree (NASDAQ:TREE
  • Phreesia (NYSE:PHR)
  • Pluristem Therapeutics (NASDAQ:PSTI)
  • Syros Pharmaceuticals (NASDAQ:SYRS)
  • Thermo FIsher Scientific (NYSE:TMO)
  • Roku (NASDAQ:ROKU)
  • Nvidia (NASDAQ:NVDA)
  • HubSpot (NYSE:HUBS)
  • Pure Storage Inc (NYSE:PSTG)


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