ARK Invest Rebalances Portfolio with Netflix Buy and Biotech Sales
Cathie Wood's ARK Invest made decisive moves in streaming and biotech this week. The firm's ARKW ETF acquired $7.27 million in Netflix shares following the streamer's earnings beat, even as the market reacted coolly to its Warner Bros. Discovery acquisition plans.
ARK's biotech divestment included a $4.19 million sale of Beam Therapeutics across two ETFs. Meanwhile, the firm doubled down on AI healthcare with a $5.98 million position in Tempus AI—a bet on diagnostic algorithms outperforming traditional biotech.
The trades reveal Wood's continued conviction in disruptive tech: autonomous vehicle firm WeRide gained $945,000 in fresh funding, while ARK trimmed positions in GitLab and Pinterest to finance these moves.