Cathie Wood's Ark Invest Dumps Block Inc and Moderna Shares, Trims Robinhood Stake
- Linda HamiltonOriginal
- 2024-10-17 16:10:15212browse
On Wednesday, Cathie Wood's Ark Invest made significant trades involving Block Inc SQ and Moderna Inc MRNA.
Cathie Wood’s Ark Invest was seen making significant trades on Wednesday, involving Block Inc (NYSE:SQ), Moderna Inc (NASDAQ:MRNA), and Robinhood Markets Inc (NASDAQ:HOOD). Here’s a closer look at the trades made by the investment firm.
Block (SQ) Trades: Ark Invest sold off a substantial number of shares in Block, despite the Bitcoin (BTC)-focused company’s recent positive second-quarter results. The sale involved 23,473 shares from the ARK Innovation ETF (NYSE:ARKK), which, based on the closing price of $73.53 on Wednesday, is valued at approximately $1.72 million. Notably, this is the second day in running when Wood dumped Block shares. On Tuesday, Ark had offloaded 17,816 shares worth $1.28 million.
Moderna (MRNA) Trades: Ark Invest also sold shares of Moderna Inc from both its ARK Genomic Revolution ETF (NYSE:ARKG) and ARKK funds, totaling 46,186 shares. Based on the closing price of $57.46 per share on Wednesday, the value of this trade is approximately $2.65 million. Moderna recently outlined its post-Covid roadmap, highlighting its mRNA-based pipeline and revised financial plans, which could have influenced Ark’s decision. Earlier on Tuesday, Wood had sold 24,981 shares of Moderna, valued at around $1.4 million.
Robinhood (HOOD) Trades: Ark Invest further offloaded 2,636 shares of Robinhood Markets Inc from its ARK Next Generation Internet ETF (NYSE:ARKW). The trade, valued at approximately $71,000 based on the closing price of $26.93 on Wednesday, comes as Robinhood announced the launch of futures trading and index options trading, marking a major expansion of the platform’s offerings.
Other Key Trades:
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