Netflix, Pfizer, Coinbase, Pinduoduo, JD, Meituan — These Are Cathie Wood's Key Trades From Wednesday

Netflix, Pfizer, Coinbase, Pinduoduo, JD, Meituan — These Are Cathie Wood's Key Trades From Wednesday

Cathie Wood-led Ark Invest on Wednesday trimmed all of its exposure to Netflix Inc NFLX in one of the two active exchange-traded funds that own shares in the streaming video on-demand service. 

The popular money managing firm sold 192 shares —estimated to be worth about $105,135— in Netflix via the Ark Next Generation Internet ETF ARKW.

Ark Invest still holds 26,802 shares — worth $14.67 million— in Netflix via the Ark Space Exploration & Innovation ETF ARKX as of Wednesday’s trade. No other ETF holds any position in Netflix.

Netflix shares, which have risen only 1.26% so far this year, closed 1.05% lower at $548.58 on Wednesday. 

See Also: Cathie Wood Sells $7.7M In Netflix, $3M In Nvidia

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

  • Bought 170,809 shares — estimated to be worth about $8.11 million — in Pfizer Inc PFE on the dip. Shares of the pharma company closed 1.80% lower at $47.51 on Wednesday.
  • Snapped up 60,901 shares — estimated to be worth $15.6 million — in Coinbase Global Inc COIN on the dip. Shares of the cryptocurrency exchange company closed 0.98% lower at $256.77 on Wednesday.
  • Bought 75,593 shares —estimated to be worth about $7.4 million— in Pinduoduo IncPDD on the dip. Shares of the Chinese agri-focused tech platform closed 1.29% lower at $97.84 on Wednesday.
  • Snapped up 58,946 shares — estimated to be worth about $4.48 million— in JD.com Inc JD as the shares of the Chinese e-commerce company showed signs of recovery. JD.com shares closed 1.22% higher at $76.14 on Wednesday.
  • Shed 1.34 million shares —estimated to be worth $78.5 million — in the Chinese food delivery giant Meituan MPNGY. Shares of the company, which have fallen 22% so far this year, closed at $58.47 on Wednesday. Ark no longer holds any stake in Meituan as of Wednesday’s trade.

See Also: Cathie Wood Portfolio Company Meituan Drops 15% In Two Sessions In Sight Of Regulatory Action

Posted In: ARK InvestBitcoinCathie WoodChinese stocksCovid-19 vaccinesSVODCryptocurrencyLong IdeasNewsSector ETFsBroad U.S. Equity ETFsShort IdeasMarketsTrading IdeasETFs

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