SSYS - Cathie Wood's Ark Invest Purchases Nearly $17M Worth Of Roku Shares Sells Coinbase Robinhood Stock | Benzinga
On Tuesday, Cathie Wood-led Ark Invest made a significant purchase of Roku Inc (NASDAQ:ROKU) shares. This decision comes amidst a period of market volatility and recent bearish sentiments from analysts toward Roku’s revenue growth prospects.
The Roku Trade
Ark Invest’s acquisition of Roku shares stands out as the day’s most notable transaction. The investment firm purchased $16.9 million of Roku stock across multiple funds, including Ark Fintech Innovation ETF (NYSE:ARKF), ARK Innovation ETF (NYSE:ARKK), and ARK Next Generation Internet ETF (NYSE:ARKW). On Tuesday, Roku stock closed 2.9% lower at $89.
This move is particularly intriguing given the recent skepticism from analysts regarding Roku’s economic viability in the face of stiff competition and a challenging advertising market.
Other Key Trades:
- Sold shares of Coinbase Global Inc (NASDAQ:COIN) across ARKF, ARKK, and ARKW funds ...