SQ - Cathie Wood Sells $14.9M Worth Of This Jim Cramer Pick Loads Up On $5.7M Worth Of Robinhood Stock | Benzinga
On Monday, Cathie Wood-led Ark Invest made significant trades, with the most notable being the sale of DraftKings Inc (NASDAQ:DKNG) shares. This move comes amidst a backdrop of recent discussions about DraftKings’ position in the sports betting world and its competition with Penn Entertainment.
The DraftKings Trade: Ark Invest sold a substantial 469,217 shares of DraftKings through ARK Innovation ETF (NYSE:ARKK). The transaction was valued at $14.9 million, based on the stock’s closing price of $31.79 on Monday. This decision is intriguing, especially considering Wood’s recent comments on the company.
In an exclusive interview on “The Raz Report,” Wood expressed satisfaction with DraftKings’ performance over the past years, even amidst stiff competition. She highlighted DraftKings’ diversification into areas like non-fungible tokens and believed that the company is in a strong position alongside FanDuel. Furthermore, Jim Cramer recently recommended buying DraftKings over Churchill Downs Incorporated.
The Robinhood Trade: Ark Invest ...