Popular investor Cathie Wood’s Ark Invest over the week gobbled up shares of firms that have soared during the pandemic but have since lost steam, according to a Reuters report.
ARK in the week acquired 739,082 shares of gaming firm Roblox, 329,073 of technology firm Zoom Video Communications, 575,648 of streaming manufacturer Roku, and 100,642 of online shopping platform Shopify Inc.
ARK also unloaded over 500,000 shares of Snap Inc., ahead of the firm’s earnings results release. Snap declined by almost 2% in early trading on Friday, after concerns that revenue could take a hit from inflation.
Wood in the past week maintained her bullish stance on electric-car maker Tesla Inc., which remains ARK’s biggest holding estimated at $969 million or equivalent to 10% of the weight.
The latest acquisitions come after a selloff in Netflix after the firm reported a wide subscriber loss.