Cathie Wood Buys $28 Million Of Amazon Stock During Pullback, Sells $26 Million Of This Stock

Despite the stock market turmoil on Monday, Cathie Wood remained an active buyer. Her ARK Invest firm made significant purchases of Amazon stock, Coinbase, and Robinhood, while selling shares of Block (SQ) and Zoom (ZM).

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Cathie Wood and the ARK Invest funds were actively trading across various ETFs, including ARK Innovation ETF (ARKK), ARK Autonomous Technology & Robotics ETF (ARKQ), ARK Next Generation Internet ETF (ARKW), ARK Fintech Innovation ETF (ARKF), and ARK Genomic Revolution ETF (ARKG), as reported in the firm’s daily trade updates.

Among the top buys on Monday was Amazon.com (AMZN), with ARK purchasing 174,498 shares worth nearly $28.1 million based on the closing price of $161.02.

ARK also invested heavily in cryptocurrencies, buying $17.78 million worth of Coinbase (COIN) and $11.2 million worth of Robinhood (HOOD) shares.

Wood added shares of Meta Platforms (META) and Tesla (TSLA) worth $5.96 million and $2.47 million, respectively, on Monday.

Additionally, ARK purchased significant amounts of DraftKings (DKNG), Palantir Technologies (PLTR), and Roku (ROKU), among others.

Wood also acquired shares of Tempus AI (TEM) and Advanced Micro Devices (AMD) totaling $2.46 million and $3.4 million, respectively.

Cathie Wood’s Top Sales

Despite the buying spree, Wood also participated in Monday’s sell-off. The firm sold off shares of Block, Zoom, UiPath (PATH), and Teladoc Health (TDOC), among others.

Ark also divested $3.4 million worth of ProShares Ether Strategy ETF (EETH) shares as the price of ethereum declined.

Stock Action

Some stocks rebounded on Tuesday, with PLTR, TEM, Roku, META, and Robinhood showing positive movement. However, Amazon, Tesla, and DraftKings experienced slight declines in early trading.

For more stock news and updates, you can follow Harrison Miller on Twitter @IBD_Harrison

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