Cathie Wood's Ark Invest purchases $7.2 million of Roblox stock and slashes the famed money manager's Adobe holdings
Cathie Wood's Ark Invest snatched up $7.2 million of Roblox stock and sold $106 million of its Adobe holdingsThe famed money manager snagged 196,280 shares of the video game platform company on Monday, which was allocated to Ark Next Generation Internet ETF . Ark's Roblox holdings have a combined market value of $298 million across all eight of its exchange-traded funds.
Meanwhile, the investment firm dumped 330,076 shares of Adobe in the past three trading sessions, worth over $106 million at its current price. Ark currently holds around $32,900 of the company's stock in its ARKW fund. ARKW has rallied more than 30% year-to-date as investors poured into more speculative bets in January, sending Wood's preferred growth stocks on a tear. Wood's flagship fund, Ark Innovation ETF , surged 28% in January, marking its best month ever. But ARKW and ARKK have come off highs recently on inflation concerns. never seen markets this"dislocated,"
referring to recent stock sell-offs as traders speculate on additional interest rate hikes from the US central bank as it tries to rein in inflation. "We do think inflation is coming down now. It always seems like it could come down faster, but we do believe it's on its way down," Wood said."This reminds me of early in my career in the early 80s. It was the same thing, but those who bet on lower inflation and interest rates long term were the winners."
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Billionaire investor Bill Gross rips ‘absurd’ CNBC over Cathie WoodGross called out the middling performance of Cathie Wood’s ARK Innovation ETF.
Read more »
Cathie Wood Bullish on Market Recovery, Here's WhyArk Invest CEO CathieDWood remains optimistic and believes that the most brutal interest rate increase in history is coming to an end
Read more »
Billionaire investor Bill Gross slams the hype around Cathie WoodBillionaire investor Bill Gross slams the hype around Cathie Wood, with Ark's flagship fund lagging top tech stocks
Read more »
Cathie Wood says markets are wrong for fearing inflation and tech bubbleArk Invest's Cathie Wood says markets are wrong to fear inflation and the bursting of the tech bubble
Read more »
Watch this exclusive clip from Syfy's The Ark episode 5 | Digital TrendsDigital Trends is excited to share an exclusive clip from the upcoming fifth episode of Syfy's space adventure series TheArk.
Read more »
Evan Rachel Wood Fights Claim That She 'Manipulated' Marilyn Manson AccuserAfter a Marilyn Manson accuser claimed Evan Rachel Wood 'manipulated' her, the actress provided a voicemail from the accuser saying she believed the rocker's attorney wanted the accuser to “turn on the other girls and say that it was all a ruse”
Read more »