Cathie Wood’s ARK Invest Adjusts Portfolio: Buys Pinterest Dip, Sells Roku and Robinhood
Cathie Wood's ARK Invest ETFs executed significant portfolio adjustments on November 5, capitalizing on market movements. The firm purchased 521,867 shares of Pinterest (PINS) worth $13.44 million after the stock plunged 21.8% due to weak earnings and guidance. This MOVE reflects Wood's strategy of buying growth stocks during temporary setbacks.
ARK Genomic Revolution ETF (ARKG) added 33,823 shares of Guardant Health (GH), demonstrating continued confidence in innovative health technology companies. The $3.21 million acquisition aligns with Wood's focus on disruptive genomic revolution plays.
On the sell side, ARK Innovation ETF (ARKK) liquidated 105,576 shares of Roku (ROKU) valued at $11.16 million. The fund also reduced positions in Robinhood, though exact figures weren't disclosed. These sales suggest portfolio rebalancing amid changing market conditions for streaming and trading platforms.
