When the global downtime triggered a plunge, "Sister Wood" bought CrowdStrike in a big way.
Ark Investment Management, owned by Ark Fund founder Cathie Wood, sold 88,545 shares of Roblox $Roblox (RBLX.US)$ , 17,607 shares, exchange filings show Tesla $Tesla (TSLA.US)$ stock, 16758 shares of Coinbase, and buy 38595 shares of Crowdstrike $CrowdStrike (CRWD.US)$ .
On Friday, the paralysis of the global IT system triggered market turmoil. Its "initiator" cybersecurity company CrowdStrike plummeted by more than 11%, while the ARK ETF managed by famous investor Cathie Wood bucked the market and bought CrowdStrike at the bottom.
On July 19, local time, Sister Mu's Ark Investment bucked the trend and bought 38,595 CrowdStrike shares worth approximately US $13.24 million through its ARKW and ARKF ETFs.
In addition to increasing its stake in CrowdStrike, ARK also increased its stake in software development platform GitLab Inc, buying 38,519 shares worth just over $2 million through the ARKW ETF.
While increasing its holdings in certain companies, ARK also reduced its holdings in some others. The most notable example of this is that ARK reduced its stake in electric vehicle giant Tesla through the ARKW ETF, selling 17,607 shares worth nearly $4.39 million. The reduction continues a trend from earlier this week, with ARK selling off Tesla stock in large quantities on Thursday, July 18.
Also reduced was cryptocurrency trading platform Coinbase Global Inc. ARK sold 16,758 shares through the ARKW ETF, with a total value of $3.91 million. This series of reductions in Coinbase stock reflects the continuity of last week's trading pattern.
Other underweight cases to watch include 88,545 shares of Roblox Corp, sold through the ARKF ETF, worth about $3.52 million, and 3,623 shares of Intuitive Surgery, sold through the ARKQ ETF, worth about $1.51 million.
In addition, ARK's investment activities also include the reduction of its stake in UiPath Inc and the continued purchase of Oklo Inc, which is still in the private stage. The continued buying of the latter could indicate an underlying trend identified by ARK in its investment strategy.
Overall, this series of trading activities of ARK ETF not only demonstrates its keen insight into market dynamics, but also reflects its strategy of continuously optimizing and adjusting its investment portfolio. Investors should keep an eye on the movements of these transactions to gain insight into market trends and investment opportunities.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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