Cathie Wood’s ARK Funds Bought Roblox and Roku Stock. What They Sold.
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Exchange-traded funds under the umbrella of Cathie Wood’s ARK Investment purchased shares of Roblox and Roku on Wednesday after shares of both companies fell sharply.
The ARK Innovation ETF (ticker: ARKK) bought 334,691 shares of Roblox (RBLX), while the ARK Next Generation Internet ETF (ARKW) bought 77,507 shares, according to the daily trades posted by the ARK funds.
The stock fell 9% on Wednesday after the online gaming services company released monthly user and bookings metrics that were lower than expected. Shares of Roblox were rising nearly 3% Thursday to $100.90.
Meanwhile, the ARK Innovation ETF bought 85,334 shares of Roku (ROKU), the maker of streaming devices, and the ARK Next Generation Internet ETF bought 19,155 shares.
Roku sank to its lowest close in more than a year on Wednesday in the face of an update in its patent feud with Universal Electronics , and an analyst price-target cut. The stock closed Wednesday at $203.94, down almost 8%. It was rising 4.6% on Thursday to $213.22.
Shares of Palantir Technologies , which provides data analytics software to both commercial and government customers, were sold by the ARK funds on Wednesday. The ARK Innovation ETF sold 1,728,378 shares of the company, while the ARK Next Generation Internet ETF offloaded 421,458 shares.
Palantir shares rose more than 1% on Wednesday, and were up another 1.1% to $19.06 on Thursday.
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