Sports betting pioneer DraftKings (DKNG) is having a bit of a hard time on Wall Street, with DKNG stock down about 25% over the past month. Utilizing this dip, Cathie Wood’s investment machine, Ark Invest, has recently bought into the stock.
Ark Invest disclosed that it purchased a total of 511,049 shares of DKNG stock through its actively managed exchange-traded funds (ETFs). The investment underscores Wood’s preference for taking advantage of volatility and adding stocks to her portfolio when they are under pressure.
