Cathie Wood’s Ark Invest Makes Major Moves: Block, Moderna, and Robinhood Shares Sold

## Cathie Wood’s Ark Invest Makes Major Moves: Block, Moderna, and Robinhood Shares Sold

Cathie Wood’s Ark Invest, known for its bold investment strategies, has been making headlines with a series of significant trades this week. The fund’s activity has focused on several high-profile companies, including Block Inc (SQ), Moderna Inc (MRNA), and Robinhood Markets Inc (HOOD).

Block Inc (SQ):

Despite Block’s strong second-quarter results, Ark Invest has been selling off shares of the Jack Dorsey-led company. On Wednesday, the ARK Innovation ETF (ARKK) shed 23,473 shares of Block, valued at approximately $1.72 million. This marks the second consecutive day of Block share sales by Ark. On Tuesday, the fund offloaded 17,816 shares worth $1.28 million.

Moderna Inc (MRNA):

Ark Invest has also been selling shares of Moderna, a leading biotechnology company known for its mRNA-based vaccines. The fund sold a total of 46,186 shares from both its ARK Genomic Revolution ETF (ARKG) and ARKK funds. This transaction, valued at approximately $2.65 million, comes after Moderna unveiled its post-Covid roadmap, outlining its future plans and revised financial projections. Earlier on Tuesday, Ark sold 24,981 shares of Moderna, worth $1.4 million.

Robinhood Markets Inc (HOOD):

Ark Invest has also been reducing its stake in Robinhood Markets, the popular online brokerage platform. The ARK Next Generation Internet ETF (ARKW) sold off 2,636 shares of Robinhood, valued at approximately $71,000. This move comes as Robinhood expands its services to include futures trading and index options trading, marking a significant expansion of the platform’s offerings.

Other Notable Trades:

Beyond the sales, Ark Invest has also been making strategic purchases. The fund has added shares of Intellia Therapeutics Inc (NTLA) and CRISPR Therapeutics AG (CRSP) to its ARKK fund. Ark has also bought shares of Tempus AI Inc (TEM) for both its ARKK and ARKG funds. Additionally, Ark’s ARKQ fund has sold shares of Markforged Holding Corp (MKFG) and Materialise NV (MTLS), while purchasing shares of Blade Air Mobility Inc (BLDE).

These moves by Ark Invest highlight the fund’s active approach to investing and its willingness to adapt its portfolio based on market dynamics and company performance. The fund’s decisions to sell off shares in Block, Moderna, and Robinhood, despite the positive news surrounding those companies, indicate that Ark Invest is looking for opportunities elsewhere in the market.