Yahoo Finance
On June 18,Cathie Wood’s ARK Invest showed off a notable rotation following a superb run in two of the most popular high-growth stocks.
Investors had been rewardingRobinhood (HOOD)for its cost-cutting plan andRoku (ROKU)for its takeover-driven rally, but ARK moved in the opposite direction.
Wood took profits in both stocks after the catalysts lifted sentiment, turning both into sources of cash.
Those adjustments land against a far more buzzworthy story.
Wood recently built amajor post-IPO positioninSpaceX, with ARK buying nearly 3.3 million shares that were worth about $531 million by the end of the stock’s first trading day, adding to her reputation among fans and investors as a big-name, high-risk, high-reward stock picker.
On top of that, the ARK Invest boss didn’t just move to the sidelines.
The firm added to Eli Lilly, Coinbase, and other big names linked to new catalysts, pointing to a major shift from completed or mature rallies toward fresh upside stories.
However, the question now beckons whether Wood is taking profits early or getting ahead of a momentum fade.
Wood’s Robinhood and Roku sales point to a classic case of profit-taking after sudden catalysts.
Goldman Sachs has blunt message for AI stock investors Microsoft CEO sends a blunt warning on AI and the tech ecosystem The next AI infrastructure race has nothing to do with chips Robinhood became one of ARK’s largest trims of the day.
The firm sold off 275,572 shares through the ARK Innovation ETF, worth $26.65 million.
According toReuters, the sale came just after Robinhood said it would cut about 10% of its full-time workforce, or roughly 290 jobs, as CEO Vlad Tenev pushed the company to stay lean and focused.
| Product | Price | Change |
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