Cathie Wood’s innovation-centric ARK Invest sells a large number of stocks from several companies and loads them into one big tech stock.
Data from Cathiesark.com, which tracks investment firms’ shareholdings and trade, shows that Ark Invest sold US Crypto Exchange Coinbase (Coin) worth $6.3 million on July 10.
The company also sold trading app giant Robinhood worth $5.6 million on July 10th and streaming platform Roku (Roku), worth $8.5 million between July 10th and July 11th.
Other recent large Ark investment sales include $8.3 million at the $1.8 million electric aircraft manufacturer Archer Aviation (Archr) on July 11, and at Digital Payment Company Square (XYC) on July 9th to July 10th.
Amid a massive sale, Ark Invest purchased a total of $14.2 million electric car manufacturer Tesla (TSLA) on July 11th.
Ark Invest’s top single holding is $881.4 million, while Tesla is second in the second place with $865.1 million.
Ark Invest’s third largest holding is Roku at $674.4 million, followed by Robinhood at $636.1 million.
Ark CEO Cathie Wood said in an interview with CNBC that the stock market is likely to join the strong Bull Run, predicting a US economic recovery when the Fed cuts.
“We’ve been climbing the wall of worry, and many people were hoping to really shake up tariffs and war, and the controversy between the Fed and the president.
And of course there was some volatility. But these are the kind of bull markets I think are the most durable when the market gets through all of that controversy. It really informs something. And I’m signaling: Interest rates are probably falling… Moves from a gentle recession to recovery. ”
