NVDA - Cathie Wood's Ark Invest Goes Shopping For Moderna Stock — Sells DraftKings Shares Amid Quarterly Rise In Revenue EPS Beat | Benzinga
On Thursday, Cathie Wood-led Ark Invest made notable adjustments to its holdings, with a significant sale of DraftKings Inc (NASDAQ:DKNG) shares and the addition of Moderna Inc (NASDAQ:MRNA) stock. This move comes amidst DraftKings’ positive earnings report and Moderna’s challenges with vaccine demand.
The DraftKings Trade: Despite a strong earnings report where DraftKings climbed on third-quarter revenue and EPS beat, Ark Invest divested a significant portion of its stake in the company.
Ark sold 74,926 shares, representing 0.0354% of the ARK Innovation ETF (NYSE:ARKK). The transaction was valued at $2.2 million, based on the stock’s closing price of $28.98 on Thursday.
Moderna’s Market Maneuver: Meanwhile, Ark Invest bolstered its position in Moderna, purchasing 83,344 shares worth $5.9 million based on the stock’s closing price ...