Cathie Wood’s ARK buys Tesla stock, sells Robinhood and Coinbase

Cathie Wood’s ARK ETFs have made notable moves in the market on Friday, April 5th, 2024, as reported in their daily trade summary. Leading the purchases, ARK bought a significant amount of Tesla Inc (NASDAQ:) shares, adding 133,975 shares across its ARKK and ARKW ETFs, with a total dollar value of $22,924,462. This move underscores ARK’s continued confidence in the electric vehicle giant, which has been a consistent trend as the fund has been accumulating Tesla shares over recent days.

ARK also increased its holdings in Roku Inc (NASDAQ:), buying 154,401 shares through ARKK and ARKW, valued at $9,301,116. This purchase follows a pattern of investment in the streaming device company, suggesting a bullish stance on Roku’s market position and growth potential.

On the sell side, ARK divested a substantial number of shares in Robinhood Markets Inc (NASDAQ:), offloading a total of 925,585 shares across three ETFs—ARKK, ARKW, and ARKF—with a total value of $17,077,043. This move indicates a significant reduction in ARK’s position in the online brokerage platform.

ARK also sold shares of Coinbase Global Inc (NASDAQ:), with a total of 62,615 shares sold for a value of $15,629,330. The sale was spread between the ARKK and ARKW ETFs, marking another step back from the cryptocurrency exchange company.

Smaller but still noteworthy trades included the purchase of 3,495 shares of Roblox Corp (NYSE:RBLX) valued at $128,615, and 31,118 shares of Personalis Inc (NASDAQ:) for $43,565 through the ARKG ETF. Additionally, ARK bought 4,436 shares of 10X Genomics Inc (NASDAQ:TXG) across ARKK and ARKG, totaling $158,542.

These trades reflect ARK’s ongoing strategy of investing in disruptive innovation and technology while adjusting its portfolio in response to market dynamics. The consistent investment in Tesla, along with the recent accumulation of Roku and Personalis shares, contrasts with the significant sales of Robinhood and Coinbase, highlighting ARK’s active management approach to capitalizing on perceived growth opportunities and divesting from less favorable positions.

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