Cathie Wood Snaps Up $17 Million Robinhood Stake on the Dip

This article first appeared on GuruFocus.

Aug 20 – Cathie Wood’s ARK Invest funds moved actively across fintech and biotech names on August 19, buying into weakness while trimming other positions.

The ARK Innovation ETF (ARKK) picked up 150,908 shares of Robinhood Markets Inc. (NASDAQ:HOOD), worth about $17 million, after the stock slipped 6.5%. That purchase pushed Robinhood to the seventh spot in ARK’s combined portfolio with a market value of $681.4 million.

Wood also added to her gene-editing bets. ARKK and the ARK Genomic Revolution ETF (ARKG) acquired a combined $12.4 million of CRISPR Therapeutics AG (NASDAQ:CRSP) shares after a near-6% drop. Beam Therapeutics Inc. (BEAM) also drew attention, with ARKK and ARKG buying more than $9 million in stock as it fell 4.4%.

Health-tech firm GeneDx Holdings Corp. (WGS) saw roughly $15.9 million in purchases, following a $21.5 million buy a day earlier. Additional investments included $9.6 million in Twist Bioscience Corp. (TWST), $7.2 million in Intellia Therapeutics Inc. (NASDAQ:NTLA), and $6.3 million in 10x Genomics Inc. (NASDAQ:TXG).

On the sell side, ARK reduced exposure to Tempus AI Inc. (NASDAQ:TEM) and Genius Sports Ltd. (GENI), unloading $8.6 million and $2.8 million in stock, respectively.