Ark Builds Teladoc and Sells a Fintech & Defense Firm, according to Cathie Wood Watch

Ark Builds Teladoc and Sells a Fintech & Defense Firm, according to Cathie Wood Watch ...

Monday, Cathie Wood, the renowned investment manager of Ark Investment Management, traded a number of her previous names.

While sales included a fintech and a defense contractor, the purchase of a health-care company and an e-commerce company.

The following are all valuations as of Monday's closing.

Ark funds acquired 44,940 shares of Teladoc, an online health services company, valued at $2.7 million.

Ark Fintech Innovation ETF () has sold 3,808 shares of Shopify, an e-commerce platform, for $1.7 million.

Ark Fintech snatched 9,430 shares of Twilio () - which provides software to developers, valued at $1.2 million.

And Ark funds seized 232,562 shares of Ginkgo Bioworks (), a biotechnology business, valued at $902,341.

Tesla, LendingClub, and L3Harris are all on sale.

Ark funds dumped 8,295 shares of electric-vehicle titan Tesla () - valued at $8.3 million. Wood has stated that her selling of Tesla represents profit-taking and that she still believes in the company. Tesla remains the largest holding in Wood's flagship Ark Innovation ETF ().

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Ark Fintech sold 281,302 shares of LendingClub () in the online lending market, which was valued at $4.1 million.

The defense contractor's stock was down 10% for the seven weeks through Monday's closure.

Ark Innovation has dropped 40% this year, as Wood's smaller technology stocks have fallen. But many investors are still believing in her.

According to FactSet, the fund received an inflow of $658 million this year through Thursday, including $59 million in the previous week, as Ark Innovation has total assets of $9.9 billion.

Return Horizon for the Five Years

Wood claims she intends to make five-year returns. And indeed Ark Innovation has outperformed the S&P 500 in the last five years, with a 19% annualized total return, compared to a 14.5% for the S&P 500. But Ark Innovation has dropped more than 65 percent from its February 2020 high.

On March 29, Morningstar Analyst Robby Greengold of Ark Innovation.

ARKK shows few signs of improving its risk management or ability to successfully navigate the challenging territory it explores, he said. Wood's reliance on her instincts to construct the portfolio is a risk.

In a recent interview with Magnifi Media, Wood countered his remarks. "I do know there are organizations like that one [Morningstar] that do not understand what we're doing," she said.

"We do not fit into their style boxes," said the author. I think style boxes will become a thing of the past, as technology blurs the lines between and among organizations."

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