DraftKings, Pfizer, Coinbase, Alibaba, Square, Pinduoduo — How Cathie Wood's Ark Played The Stock Market On Tuesday

DraftKings, Pfizer, Coinbase, Alibaba, Square, Pinduoduo — How Cathie Wood's Ark Played The Stock Market On Tuesday

Cathie Wood-led Ark Invest on Tuesday snapped up 1.07 million shares —estimated to be worth $60.6 million — in DraftKings Inc DKNG.

Shares of the Boston, Massachusetts-based sports-betting company closed 5.91% higher at $56.47 on Tuesday after it announced a deal with the privately-held Simplebet, a specialty tech company that facilitates micro-betting.

Ark owns stakes in DraftKings via the Ark Innovation ETF ARKK, the Ark Next Generation Internet ETF ARKW and the Ark Fintech Innovation ETF ARKF and deployed all three of its active ETFs on Tuesday to buy shares in Draftkings on Tuesday. 

On a consolidated basis, Ark held 13.87 million shares, worth $740 million, in DraftKings, ahead of Tuesday's trade. 

See Also: Alibaba, Palantir, Google, JD, Lockheed Martin, Genius Sports — Stocks Cathie Wood's Ark Bought Or Sold On Monday

Here are some of the other key trades for Ark on Tuesday:

  • Sold 150,115 shares — estimated to be worth $40.55 million — in Jack Dorsey-led Square Inc SQ. Square share closed 0.1% lower at $270.17 on Tuesday.
  • Snapped up 6,308 shares — estimated to be worth $1.6 million — in Coinbase Global Inc COIN. Shares of the cryptocurrency exchange company closed 1.28% higher at $259.28 on Tuesday.
  • Shed 67,580 shares — estimated to be worth about $11.6 million — in Alibaba Group Holding BABA, on the day shares of the Chinese e-commerce giant soared to close 6.61% higher at $171.70.
  • Bought 258,390 shares — estimated to be worth about $12.5 million — in Pfizer Inc PFE, on the day shares of the pharmaceutical company closed 3.01% lower at $48.38.
  • Bought 10,231 shares —estimated to be worth about $1 million — in Pinduoduo Inc PDD, on the day shares of the Chinese agri-focused tech platform soared after reporting its first quarterly net profit. PDD shares closed 22.25% higher at $99.12 on Tuesday.

Posted In: ARK InvestBitcoinCathie WoodChinese stockspaymentssports bettingCryptocurrencyLong IdeasNewsSector ETFsBroad U.S. Equity ETFsShort IdeasMarketsTrading IdeasETFs

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