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Cathie Wood’s ARK Invest Adjusts Portfolio with DraftKings, Alibaba, and Baidu Purchases
Cathie Wood’s ARK Invest Adjusts Portfolio with DraftKings, Alibaba, and Baidu Purchases
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BTCCSquare news:
Cathie Wood's ARK Invest ETFs executed significant trades on October 1, with a $19.1 million purchase of DraftKings (DKNG) shares across multiple funds. The MOVE signals continued confidence in the online betting sector. ARK Innovation ETF (ARKK) also added $5.4 million in Alibaba (BABA) and $2.85 million in Baidu (BIDU), doubling down on Chinese tech despite regulatory headwinds.
The fund simultaneously divested from Brera Holdings (BREA), a multi-club sports owner, marking a strategic shift away from traditional sports investments. Other notable buys included autonomous driving play Kodiak AI, reflecting ARK's thematic focus on disruptive technologies.
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