Cathie Wood’s Bold Move: Loading Up on Pinterest Dip While Dumping Roku and Robinhood
ARK Invest's crypto visionary makes strategic portfolio pivot
The Dip Purchase
Cathie Wood's flagship funds scooped up Pinterest shares during recent market weakness—betting big on the social platform's growth potential while traditional investors hesitated.The Sell-Off
Roku and Robinhood got the axe in the same sweep, with Wood's team executing precise exits from positions that had previously been portfolio favorites.Strategic Realignment
This isn't random portfolio shuffling—it's calculated repositioning from a investor who's consistently anticipated digital transformation trends before they went mainstream.The Big Picture
While Wall Street analysts debate quarterly earnings, Wood's playing chess when others are playing checkers—proving once again that in today's market, being early feels wrong until it feels brilliantly right.Elevate Your Investing Strategy:
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Pinterest, a visual discovery and social media platform, reported revenues in line with estimates but missed earnings expectations for Q3. The company also issued a weak outlook, which weighed heavily on its share price. Wood capitalized on this dip and purchased 521,867 shares of Pinterest, totaling $13.44 million, through three funds.
Additionally, the ARK Genomic Revolution ETF (ARKG) acquired 33,823 shares of Guardant Health (GH), for about $3.21 million based on the same day’s closing price. This reflects Wood’s ongoing interest in innovative health technology companies.
Wood’s Portfolio Selling Activity
On the same day,Wood undertook multiple stock sales across various ARK funds. The largest sale was 105,576 shares of TV streaming platform Roku (ROKU) through the ARK Innovation ETF (ARKK), valued at about $11.16 million. The fund also disposed 56,095 shares of cryptocurrency exchange Robinhood Markets (HOOD) for $7.99 million. Notably, Robinhood surpassed both earnings and sales expectations for the third quarter.
Meanwhile, the ARK Next Generation Fintech ETF (ARKW) sold 11,989 shares of Reddit (RDDT) for $2.35 million.
Furthermore, the ARK Fintech Innovation ETF (ARKF) sold 60,808 shares of SoFi Technologies (SOFI) for $1.83 million. The ARKG fund reduced its holdings in Adaptive Biotechnologies (ADPT) by selling 87,072 shares for about $1.53 million and also trimmed positions in Incyte Corp. (INCY) and Ionis Pharmaceuticals (IONS).
Simultaneously, the ARK Autonomous Technology & Robotics ETF (ARKQ) and the ARK Space Exploration & Innovation ETF (ARKX) trimmed stakes in Teradyne (TER), Rocket lab (RBLB), and AeroVironment (AVAV).
Wood’s Strategic Portfolio Shuffle
These transactions suggest Cathie Wood is strategically repositioning her funds amidst current market volatility. By buying into Pinterest after its sharp selloff, ARK signals confidence in the company’s long-term potential despite short-term challenges. At the same time, selling shares of Roku, Robinhood, and other fintech and biotech companies may mean ARK is balancing growth with caution or shifting money to other innovative areas.
Let’s see how some of these stocks perform using the TipRanks Stock Comparison Tool:
Out of the above discussed companies, Guardant Health and Pinterest stocks carry a “Strong Buy” consensus rating, with PINS stock offering a higher upside potential over the next twelve months.
