ARK Invest Rebalances Portfolio: Buys DraftKings Dip, Sells Shopify Ahead of Earnings
Cathie Wood's ARK Investment Management executed strategic trades on October 29, 2025, capitalizing on market movements in growth sectors. The firm acquired $3.05 million worth of DraftKings shares as the sports betting stock languished 18% year-to-date, while divesting $650,161 in Shopify positions before its earnings report.
The DraftKings accumulation spanned three ARK ETFs (ARKK, ARKW, ARKF) following an 11% weekly decline. Market observers note the timing coincides with increased competition from Polymarket's planned US re-entry and DraftKings' own expansion into prediction markets through its Railbird Technologies acquisition.
ARK continued its biotechnology focus with $2.03 million allocated to Pacific Biosciences and $2.96 million to 10X Genomics. These moves reinforce Wood's thematic investment approach despite recent sector volatility.
