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Benzinga
Benzinga
Entertainment
Rachit Vats

Cathie Wood Trims Spotify And Buys Netflix-Fueled Dip In These 2 Stocks

Cathie Wood Spotify SPOT Netflix Roku Roblox NYSE Ark Invest Nasdaq ARK

Cathie Wood-led Ark Investment Management on Wednesday raised its exposure in Roblox Corp (NYSE:RBLX) and Roku Inc (NASDAQ:ROKU) on the dip and sold shares in Spotify Technology SA (NYSE:SPOT) after streaming giant Netflix Inc (NASDAQ:NFLX) announced a massive fall in subscribers. 

The popular money managing firm bought 440,419 shares and 375,425 shares in Roblox and Roku, respectively. Based on Wednesday’s closing price for each stock, these trades are estimated to be worth $16.1 million and $41 million. 

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