On June 7, prominent investor Cathie Wood purchased shares of an online videogame platform and selling an e-commerce company.
The following are the prices for Tuesdays.
Ark funds purchased 422,638 shares of Roblox (RBLX) on Saturday Night Live. The company''s Class A report was paid $13.3 million, which is up 67 percent from the previous year.
Get Roku Inc. Report, a video-streaming service, is valued at $5.5 million. This stock has dropped 56% this year.
Ark Genomic Revolution ETF (ARKG) - Get ARK Genomic Revolution ETF Reportsnatched 129,800 shares of Burning Rock Biotech (BNR) - Get Burning Rock Biotech Limited Report, valued at $279,070. The stock has dropped by 76 percent year to date.
Ark funds bought 99,132 shares of UiPath (PATH) - Get UiPath Inc. Class A Report, a robotics-software business, valued at $2 million. The stock has been down 50% this year.
Ark funds unloaded 324,672 shares of Spotify Technology (SPOT) - Get Spotify Technology S.A. Report, valued at $35.6 million. Wood continues to shed shares of the company, which has seen its stock decrease by 51% year to date.
Loyal Following
Wood has a strong base among retail investors. Many of them appear to be concerned about the underperformance of her funds, at least her flagship, Ark Innovation.
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According to Bloomberg, Arks'' roster of nine exchange-traded funds decreased by 48 percent from the start of June 1, to $15.3 billion. That''s the largest drop among the largest 25 U.S. ETF issuers.
The asset loss erupted partly due to fund performance. So far, the Ark funds as a whole have net inflow of $167 million this year.
More than half of that total comes from the Woods flagship Ark Innovation ETF (ARKK) - Get ARK Innovation ETF Report. It achieved a net inflow of $1.24 billion in the six months through June 3, according to VettaFi, an ETF research company.
And, in Ark Innovation, Wood, who has used the word Mamma Cathie for years, hasn''t lost her confidence.
Trailing the S&P 500
Ark Innovation and the other Wood funds have fallen in recent months, despite claiming that she has a five-year investment target.
Ark Innovation''s five-year record might be of real benefit to investors until May 9. The funds five-year return was higher than of the S&P 500 until then. But Ark Innovation''s five-year annualized return was 0.42% up until June 6, down from 13.34% in the S&P 500.
Ark Innovation has dropped 51% so far this year, as Woods technology companies hit the skids. And it has dropped 71% from its February 2021 peak. This has helped keep the kibosh on tech stocks.
Most [fund managers] would likely fail if they had the same results, but Cathie and Ark have a strong following, according to Bloomberg Intelligence ETF analyst Athanasios Psarofagis.
