Cathie Wood Seizes Figma Dip Opportunity While Dumping Roku and Genius Sports

Cathie Wood's ARK makes bold moves as markets churn—buying the Figma dip while cutting Roku and Genius Sports positions.

Strategic Shuffle

ARK Investment Management executed a classic 'buy fear, sell greed' maneuver. Scooped up Figma shares at discounted levels while trimming exposure to streaming play Roku and sports data provider Genius Sports. The moves reflect Wood's signature conviction investing approach—doubling down on disruptive names during temporary weakness.

Market Timing or Gambling?

Wood's team pounced on Figma's recent pullback, adding to ARK's design software stake. Meanwhile, they liquidated portions of the Roku and Genius Sports holdings—likely profit-taking after recent runs. Because nothing says 'calculated strategy' like selling what's working to buy what's not. Typical Wall Street genius—sell your winners to fund your losers.

Contrarian Bets Pay Off—Sometimes

Wood's reputation hinges on making unpopular bets that eventually pan out. This latest rotation follows that playbook: accumulating beaten-down assets while reducing exposure to stronger performers. Whether this particular gamble pays off remains unseen—but it certainly makes for entertaining portfolio theater.

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Similarly, Wood continued to accumulate shares of gene-editing company Intellia Therapeutics (NTLA), buying 131,700 shares valued at $1.5 million, reflecting her growing conviction in the biotech space.

Wood Trims ROKU Stake Further

On the selling side, the ARK Innovation ETF (ARKK) sold an additional 26,465 shares of Roku (ROKU), totaling $2.60 million, in-line with Wood’s recent selling spree of the TV streaming giant. Despite these consistent sales, ROKU remains the second-largest holding across ARK’s combined portfolios, with a 5.18% weighting.

Moreover, Wood offloaded a major chunk of shares in the sports data company Genius Sports (GENI), selling 428,277 shares for roughly $5.59 million.

Wood Accumulates Figma Stock

Wood is accumulating shares of cloud-based design developer Figma, taking advantage of recent dips in its stock price. On September 4, the ARK Next Generation Internet ETF (ARKW) purchased $7.37 million worth of Figma shares.

Earlier, Wood had acquired a massive 60,000 shares of Figma worth about $69.30 million during its IPO on July 31. The company had a blockbuster market debut, with its shares rallying 250% on the first day. However, as of today, the stock has declined 55.3% from its initial listing price.

Figma missed both sales and earnings expectations for the second quarter of fiscal 2025, sending its shares lower. Investor concerns over muted Q3 guidance added pressure. Nonetheless, Wood remains confident in the company’s long-term potential as a leading UI (User Interface) and UX (User Experience) design platform. She believes in the future of disruptive technologies and maintains a high risk-reward appetite.

On TipRanks, FIG stock has a Moderate Hold consensus rating based on two Buys and seven Hold ratings. The average Figma price target of $67.57 implies 23.9% upside potential from current levels.