Cathie Wood Shifts Strategy: Dumps Pinterest (PINS), Bets Big on Bitmine (BMNR) and Biotech Boom

Cathie Wood's ARK makes a bold pivot—slashing Pinterest exposure while doubling down on high-risk, high-reward plays.

Bitmine and biotech stocks get the spotlight as Wood's fund chases explosive growth potential. Because why settle for boring blue-chips when you can ride the volatility rollercoaster?

The move follows Wood's signature pattern: ditch 'stale' tech for moonshot bets. Wall Street analysts nod politely while quietly recalculating their risk models.

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Wood Sells PINS and IRDM Stocks

The largest sale came from Pinterest. ARK Innovation sold 1,876,328 shares worth about $50.2 million, after reducing the position the day before with a smaller sale of 572,735 shares valued at roughly $15.6 million.

The MOVE follows Pinterest’s latest quarterly results, where the company missed earnings estimates and issued guidance that fell short of expectations. During the call, Pinterest CFO Julia Donnelly noted “pockets of moderating ad spend” across the U.S. and Canada, which may have contributed to softer sentiment.

ARK also reduced its position in Iridium Communications (IRDM), a satellite services provider, offloading 49,041 shares valued at about $818,494 and extending a selling trend that has continued over the past week.

ARK Loads Up on BMNR and Biotech Stocks

On the buy side, Bitmine Immersion was the key addition. ARK bought 169,407 shares through three funds: ARK Innovation (ARKK), ARK Next Generation Internet (ARKW), and ARK Fintech Innovation (ARKF). The purchase was worth about $6.19 million.

This came a day after an even larger move, when ARK purchased 242,347 shares for about $9.8 million. The two consecutive buys show rising confidence in Bitmine and its role in crypto and AI.

Biotech was another clear focus. ARK added 184,505 shares of Twist Bioscience for about $5.51 million, continuing a steady buying trend throughout the week. The fund also added 138,677 shares of Beam Therapeutics worth roughly $3 million.

Let’s see how these stocks perform using the TipRanks Stock Comparison Tool: