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A financial guru surprised and divests himself of a Wall Street giant

A financial guru surprised and divests himself of a Wall Street giant
A financial guru surprised and divests himself of a Wall Street giant

On the last day of commercial activitiesthat is, this Tuesday, ARK ETFs, directed by Cathie Wood They made significant moves in the stock market.

The highest value daily operations stand out: ARK sold a notable amount of 16,801,072 shares of Ginkgo Bioworks Holdings Inc. (NYSE), for an approximate total value of US$6,152,552. This movement evidences a continuous reduction of the position of ARK in DNA, following a sales pattern observed in the previous days.

Another relevant operation was the sale of 33,834 shares of NVIDIA Corp. (NASDAQ) for a value of US$3,996,133. This transaction is framed in a broader assessment of the semiconductor industry marketpossibly reflecting strategic adjustments in ARK’s portfolio.

Regarding acquisitions, ARK increased its holdings in Roku Inc. (NASDAQ) with the purchase of 96,465 shares, valued at US$5,252,519. This investment aligns with ARK’s trend of accumulating Roku shares, showing confidence in the growth potential of the streaming device company.

ARK too strengthened its position in 10X Genomics Inc. (NASDAQ) by acquiring a total of 254,372 shares, with a total value of US$5,056,915. This steady buildup suggests ARK’s positive outlook on the genomics company’s potential.

Among other purchases, ARK invested in Arcturus Therapeutics Holdings Inc. (NASDAQ) acquiring 34,037 shares worth US$930,231. This biotech company has been a recurring interest in ARK’s investment strategy.

Other Cathie Wood operations

In smaller scale operations, ARK bought shares of several companies, including ABSI Corp (NASDAQ), Adaptive Biotechnologies Corp (NASDAQ), Blade Air Mobility Inc (NASDAQ), Markforged Holding Corp (NYSE)PagerDuty Inc (NYSE) and Roblox Corp (NYSE).

Cathie Wood .jpg

Although these purchases are not as significant in value as those mentioned abovehighlight ARK’s diverse interest in innovative and disruptive companies from different sectors.

On the other hand, ARK continued to divest in Teladoc Health Inc (NYSE), selling 46,035 shares valued at $476,922, and in Zoom Video Communications Inc (NASDAQ), divesting 85,035 shares for a total value of $4,915,873. These sales could indicate a strategic change or a response to the recent results and future prospects of these companies.

Finally, ARK also reduced its holdings in Verve Therapeutics Inc (NASDAQ) by selling 8,466 shares for a total of $44,700. This concludes ARK’s summary of daily operations for June 25, 2024, reflecting a strategic mix of divestitures and investments in the dynamic technology and biotech landscape

Source: Ambito

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