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

Other Ark Sells On Friday:

  • LendingTree TREE 
  • Phreesia PHR
  • Pluristem Therapeutics PSTI
  • Syros Pharmaceuticals SYRS
  • Thermo FIsher Scientific TMO
  • PACCAR PCAR
  • Roku ROKU
  • Nvidia NVDA
  • HubSpot HUBS
  • Pure Storage Inc PSTG

 

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