Cathie Wood Sells Another $32M In Tesla And Loads Up On Facebook And This Sports Betting Stock

Cathie Wood’s money managing firm Ark Invest on Thursday further raised its exposure in Facebook Inc FB, after the Mark Zuckerberg-led company announced changing its name to Meta Platforms Inc last week to reflect its ambition beyond social media.

Ark Invest bought 102,461 shares — estimated to be worth $36.46 million — in Facebook on Thursday.

Facebook shares closed 1.28% higher at $335.85 a share on Thursday. The stock has risen 5.9% since Oct. 28 closing, when Zuckerberg revealed the change in name.

Facebook will change its stock ticker from FB to MVRS, effective Dec. 1.

See Also: Can Nvidia Reach A $1 Trillion Market Cap?

The investment firm bought shares in Facebook via the Ark Fintech Innovation ETF ARKF on Thursday and also owns shares in the company via the Ark Next Generation Internet ETF ARKW.

The two Ark Invest ETFs had piled up 487,303 shares — estimated to be worth $161.59 million — in Facebook, ahead of Thursday’s trade.

See Also: Cathie Wood Snaps Up $63.8M In Facebook As Social Media Giant Sets Metaverse Ambitions

Here are a few other key trades from Ark on Thursday:

  • Sold 1.79 million shares — estimated to be worth $120.9 million — in Zillow Group Inc Class C Z. Shares closed 3.07% higher at $67.48 a share on Thursday after sinking a day ago.
  • Sold 26,203 shares — estimated to be worth $32.2 million — In Tesla Inc TSLA. Shares closed 1.32% higher at $1,229.91 a share.
  • Bought 403,431 shares — estimated to be worth $18 million — in DraftKings Inc DKNGS on the day shares of the company closed 4.61% lower at $44.68 a share.

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Posted In: Long IdeasNewsSector ETFsBroad U.S. Equity ETFsShort IdeasTrading IdeasETFsARK InvestCathie Woodsocial media
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