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Cathie Wood Loads Up More On Peloton, Skillz, Teladoc On The Dip

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Cathie Wood Loads Up More On Peloton, Skillz, Teladoc On The Dip

Cathie Wood-led Ark Investment Management snapped up over 3 million shares, worth about $48.53 million, in Skillz Inc (NYSE: SKLZ) on Wednesday.

SKLZ shares closed 9% lower at $15.48 on Wednesday and were down 1% in after-hours trading in the aftermath of the company reporting a wider quarterly loss alongside a surge in revenue.

Ark owned about 12.9 million shares in Skillz divided between the ARK Innovation ETF (NYSE: ARKK) and Ark Next Generation Internet ETF (NYSE: ARKW) ahead of Wednesday's trade, worth about $263.98 million.

The New York-based hedge fund had last week come out in support of the company amid short-seller allegations related to its revenue recognition practices and the NFL partnership.

See Also: Cathie Wood Loaded Up Further On Skillz On Earnings Day

The investment firm also bought 325,805 shares, worth about $51.15 million, in Teladoc Health Inc (NYSE: TDOC), a telemedicine company.

The hedge fund bought the shares of the New York-based company via three of its funds — the Ark Genomic Revolution ETF (BATS: ARKG), ARKK and ARKW.

Teladoc is ARKG’s largest investment among a portfolio of 60 stocks and represented a weight of 7.07% ahead of Wednesday’s trade. Teladoc is also ARKK's second-largest investment just below Tesla Inc (NASDAQ: TSLA).

Wood’s firm also leveraged the dip in exercise bike maker Peloton Interactive Inc (NASDAQ: PTON) to snap up 140,904 shares, worth about $11.6 million.

The shares of the company closed 15% lower at $82.62 on Wednesday after the company issued a recall of its Tread and Tread+ treadmills. The stock was further down 1.72% in extended hours. 

See Also: Peloton Plummets On Treadmill Recall: How Does The Stock Chart Look?

Other Ark Buys On Wednesday:

  • Exact Sciences (NASDAQ: EXAS)
  • Ionis Pharmaceuticals Inc (NASDAQ: IONS)
  • 908 Devices (NASDAQ: MASS)
  • Invitae Corp (NYSE: NVTA)
  • Surface Oncology Corp (NASDAQ: SURF)
  • Repare Therapeutics Inc  (NASDAQ: RPTX)
  • UiPath Inc (NYSE: PATH
  • Twilio Inc (NYSE: TWLO)
  • Draftkings Inc (NASDAQ: DKNG)
  • Experience Investment Corp (NASDAQ: EXPC)
  • JD.com (NASDAQ: JD)
  • Vuzix Corp (NASDAQ: VUZI

Other Ark Sells On Wednesday:

  • Takeda Pharmaceutical Co Ltd (NYSE: TAK)
  • Roche Holding Ag (OTC: RHHBY)
  • Syros Pharmaceuticals Inc (NASDAQ: SYRS)
  • Regeneron Pharmaceuticals Inc (NASDAQ: REGN)
  • Pluristem Therapeutics (NASDAQ: PSTI)
  • Phreesia (NYSE: PHR)
  • LendingTree Inc (NASDAQ: TREE)
  • Synopsys Inc (NASDAQ: SNPS)
  • Pure Storage Inc (NYSE: PSTG)
  • Baidu Inc (NASDAQ: BIDU)
  • Teledyne Technologies Inc (NYSE: TDY)
  • Adyen NV (OTC: ADYEY)
  • Trade Desk Inc (NASDAQ: TTD)

 

Related Articles (PTON + SKLZ)

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