Investment star Cathie Wood, chief executive of Ark Investment Management, in recent weeks has made clear that she sees the declines in prices of young technology stocks as buying opportunities.
And she’s acting on that call.
On Wednesday, Ark snapped up shares of Twilio (TWLO), which provides software to developers; Roblox (RBLX), an online videogame platform; Coinbase (COIN) , the largest U.S. cryptocurrency exchange; and Chinese online retail giant JD.com (JD).
Ark exchange-traded funds also bought some lesser-known names: Pacific Biosciences of California (PACB), the Menlo Park, Calif., provider of genetic services for scientists, and Blade Air Mobility (BLDE) , the New York provider of helicopter and charter-jet transport services.
And they sold shares of social media titan Twitter (TWTR) and data-mining company Palantir Technologies (PLTR).
Ark funds bought 79,316 shares of Twilio. That stake was valued at $12.5 million as of Wednesday’s close and $11.7 million in recent trading.
Ark’s flagship Ark Innovation ETF (ARKK) purchased 110,407 shares of Roblox. That was valued at $5 million at Wednesday’s close and $4.7 million in recent trading.
Ark Next Generation Internet ETF (ARKW) bought 47,464 shares of Coinbase. That holding was valued at $8.2 million as of Wednesday’s close and $7.7 million in recent trading.
Ark Autonomous Technology & Robotics ETF (ARKQ) purchased 22 shares of JD.com. Those shares were valued at $1,552 as of Wednesday’s close and $1,490 in recent trading.
As for the selling, Ark Next Generation Internet dumped 237,143 shares of Twitter, valued at $7.8 million at Wednesday’s close and $7.4 million in recent trading.
Ark funds unloaded 228,594 shares of Palantir, valued at $2.4 million as of Wednesday’s close and $2.2 million in recent trading. Palantir is now the smallest holding among 38 positions in Ark Innovation.
