Latest news with #ArkInnovationETF
Yahoo
2 days ago
- Business
- Yahoo
Cathie Wood sells $22.8 million of hot stock near all-time highs
Cathie Wood sells $22.8 million of hot stock near all-time highs originally appeared on TheStreet. Cathie Wood has long been aggressive in hunting tech stocks that she believes will have a 'disruptive' impact on the future world. However, she sometimes sells a stock when it is high to secure gains. In the past week, the head of Ark Investment Management sold a popular AI stock that has surged nearly 70% year-to-date. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 Cathie Wood's investments have had a volatile ride this year, swinging from strong gains to sharp losses, and now back to outperforming the broader market. In January and February, the Ark funds rallied as investors bet on the Trump administration's potential deregulation that could benefit Wood's tech bets. But the funds stumbled in the following weeks, underperforming sharply as several of its top holdings —especially Tesla, its largest position — declined amid macroeconomic and trade policy uncertainties. Now, the fund is regaining momentum. As of June 6, the flagship Ark Innovation ETF () is up 6.11% year-to-date, outpacing the S&P 500's 2.02% gain. Wood gained a remarkable 153% in 2020, which helped build her reputation and attract loyal investors. Still, her long-term performance has made many others skeptical of her aggressive style. As of June 6, Ark Innovation ETF, with $5 billion under management, has delivered a five-year annualized return of negative 0.5%. In comparison, the S&P 500 has an annualized return of 15.18% over the same period. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology and robotics. Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood said the U.S. is coming out of a three-year 'rolling recession' and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published on April 30, she dismissed predictions of a recession dragging into 2026, as she expects "more clarity on tariffs, taxes, regulations, and interest rates over the next three to six months." "If the current tariff turmoil results in freer trade, as tariffs and non-tariff barriers come down in tandem with declines in other taxes, regulations, and interest rates, then real GDP growth and productivity should surprise on the high side of expectations at some point during the second half of this year," she wrote. She also struck an optimistic tone for tech stocks. "During the current turbulent transition in the US, we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. But not everyone shares Wood's bullish outlook. Her flagship Ark Innovation ETF has seen $2.23 billion in net outflows over the past year through June 5, including nearly $154 million in the last month alone, according to ETF research firm VettaFi. From June 2 to June 5, Wood's Ark funds sold 179,846 shares of Palantir Technologies () , which was valued at roughly $22.8 million. Palantir is known for providing AI-driven data analytics software to the U.S. government, military, and commercial clients worldwide, including JPMorgan Chase, Airbus, and Merck. The company reported stronger-than-expected first-quarter revenue in early May and raised its full-year outlook as demand for AI tools increased. 'We are delivering the operating system for the modern enterprise in the era of AI,' CEO Alex Karp said. While many tech stocks have struggled this year, Palantir has stood out. Its shares are up roughly 69% in 2025 and just hit a record close of $133.17 on June of the recent momentum comes from its government work. Back in May 2024, Palantir won a $480 million, five-year U.S. Army contract to build its Maven Smart System, which is a battlefield AI prototype. Last month, the Defense Department modified the contract, increasing the licensing ceiling from $480 million to $1.275 billion. Palantir's Foundry platform has been adopted by at least four federal agencies, including the Department of Homeland Security and the Department of Health and Human Services, according to a New York Times report published May 30. Fannie Mae also announced a partnership with Palantir in May to work on AI-based fraud detection. However, the New York Times article also raised concerns about the company's relationship with the Trump administration, alleging that the U.S. president could use Palantir's technology to target immigrants and political opponents. The article also claimed that some Palantir employees felt uncomfortable with the company's decision to work with the Trump administration and that it "risks becoming the face of Mr. Trump's political agenda." Palantir responded in a June 3 post on X, denying the accusations. More Palantir Palantir gets great news from the Pentagon Wall Street veteran doubles down on Palantir Palantir bull sends message after CEO joins Trump for Saudi visit 'The recently published article by The New York Times is blatantly untrue,' the company wrote. 'Palantir never collects data to unlawfully surveil Americans.' Palantir remains a core position for Wood even after recent trims. The stock is now the 9th largest holding in the ARK Innovation ETF, accounting for 4.54%. Wood's latest trades in the past week include buying shares of Advanced Micro Devices () , () , Guardant Health () and Veracyte () . At the same time, she trimmed positions in Tesla () , Roblox () , Robinhood () , and Meta Platforms () .Cathie Wood sells $22.8 million of hot stock near all-time highs first appeared on TheStreet on Jun 8, 2025 This story was originally reported by TheStreet on Jun 8, 2025, where it first appeared.
Miami Herald
2 days ago
- Business
- Miami Herald
Cathie Wood sells $22.8 million of hot stock near all-time highs
Cathie Wood has long been aggressive in hunting tech stocks that she believes will have a "disruptive" impact on the future world. However, she sometimes sells a stock when it is high to secure gains. In the past week, the head of Ark Investment Management sold a popular AI stock that has surged nearly 70% year-to-date. Don't miss the move: Subscribe to TheStreet's free daily newsletter Cathie Wood's investments have had a volatile ride this year, swinging from strong gains to sharp losses, and now back to outperforming the broader market. In January and February, the Ark funds rallied as investors bet on the Trump administration's potential deregulation that could benefit Wood's tech bets. But the funds stumbled in the following weeks, underperforming sharply as several of its top holdings -especially Tesla, its largest position - declined amid macroeconomic and trade policy uncertainties. Now, the fund is regaining momentum. As of June 6, the flagship Ark Innovation ETF (ARKK) is up 6.11% year-to-date, outpacing the S&P 500's 2.02% gain. Wood gained a remarkable 153% in 2020, which helped build her reputation and attract loyal investors. Still, her long-term performance has made many others skeptical of her aggressive style. As of June 6, Ark Innovation ETF, with $5 billion under management, has delivered a five-year annualized return of negative 0.5%. In comparison, the S&P 500 has an annualized return of 15.18% over the same period. Image source:Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology and robotics. Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' values. Related: Cathie Wood's net worth: The Ark Invest CEO's wealth & income The Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood said the U.S. is coming out of a three-year "rolling recession" and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published on April 30, she dismissed predictions of a recession dragging into 2026, as she expects "more clarity on tariffs, taxes, regulations, and interest rates over the next three to six months." "If the current tariff turmoil results in freer trade, as tariffs and non-tariff barriers come down in tandem with declines in other taxes, regulations, and interest rates, then real GDP growth and productivity should surprise on the high side of expectations at some point during the second half of this year," she wrote. She also struck an optimistic tone for tech stocks. "During the current turbulent transition in the US, we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. But not everyone shares Wood's bullish outlook. Her flagship Ark Innovation ETF has seen $2.23 billion in net outflows over the past year through June 5, including nearly $154 million in the last month alone, according to ETF research firm VettaFi. From June 2 to June 5, Wood's Ark funds sold 179,846 shares of Palantir Technologies (PLTR) , which was valued at roughly $22.8 million. Palantir is known for providing AI-driven data analytics software to the U.S. government, military, and commercial clients worldwide, including JPMorgan Chase, Airbus, and Merck. The company reported stronger-than-expected first-quarter revenue in early May and raised its full-year outlook as demand for AI tools increased. "We are delivering the operating system for the modern enterprise in the era of AI," CEO Alex Karp said. While many tech stocks have struggled this year, Palantir has stood out. Its shares are up roughly 69% in 2025 and just hit a record close of $133.17 on June 3. Related: As Palantir stock soars, veteran trader makes surprising call Much of the recent momentum comes from its government work. Back in May 2024, Palantir won a $480 million, five-year U.S. Army contract to build its Maven Smart System, which is a battlefield AI prototype. Last month, the Defense Department modified the contract, increasing the licensing ceiling from $480 million to $1.275 billion. Palantir's Foundry platform has been adopted by at least four federal agencies, including the Department of Homeland Security and the Department of Health and Human Services, according to a New York Times report published May 30. Fannie Mae also announced a partnership with Palantir in May to work on AI-based fraud detection. However, the New York Times article also raised concerns about the company's relationship with the Trump administration, alleging that the U.S. president could use Palantir's technology to target immigrants and political opponents. The article also claimed that some Palantir employees felt uncomfortable with the company's decision to work with the Trump administration and that it "risks becoming the face of Mr. Trump's political agenda." Palantir responded in a June 3 post on X, denying the accusations. More Palantir Palantir gets great news from the PentagonWall Street veteran doubles down on PalantirPalantir bull sends message after CEO joins Trump for Saudi visit "The recently published article by The New York Times is blatantly untrue," the company wrote. "Palantir never collects data to unlawfully surveil Americans." Palantir remains a core position for Wood even after recent trims. The stock is now the 9th largest holding in the ARK Innovation ETF, accounting for 4.54%. Wood's latest trades in the past week include buying shares of Advanced Micro Devices (AMD) , (AMZN) , Guardant Health (GH) and Veracyte (VCYT) . At the same time, she trimmed positions in Tesla (TSLA) , Roblox (RBLX) , Robinhood (HOOD) , and Meta Platforms (META) . Related: Top analyst sends bold message on S&P 500 The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Miami Herald
01-06-2025
- Business
- Miami Herald
Cathie Wood buys $13.9 million of popular AI stock
Cathie Wood, head of Ark Investment Management, often buys her favorite tech stocks when prices dip. This is what she did in late May, adding shares of a popular AI company after a pullback. Don't miss the move: Subscribe to TheStreet's free daily newsletter Wood's funds saw a brief bump after Trump won the presidency last November, but that momentum didn't go far. Her flagship Ark Innovation ETF (ARKK) underperformed the S&P 500 index amid broader market volatility this year. Year-to-date, ARKK is down 2.15%, while the S&P 500 index is up 0.51%. Wood gained a remarkable 153% in 2020, which helped build her reputation and attract loyal investors. Still, her long-term performance has made many others skeptical of her aggressive style. As of May 30, Ark Innovation ETF, with $5 billion under management, has delivered a five-year annualized return of negative 1.66%. In comparison, the S&P 500 has an annualized return of 15.94% over the same period. Image source: Marco Bello/Stringer/Getty Images Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' values. Related: Cathie Wood's net worth: The Ark Invest CEO's wealth & income The Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood recently said the U.S. is coming out of a three-year "rolling recession" and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published last month, she dismissed recession predictions as she expects "more clarity on tariffs, taxes, regulations, and interest rates over the next three to six months." "If the current tariff turmoil results in freer trade, as tariffs and non-tariff barriers come down in tandem with declines in other taxes, regulations, and interest rates, then real GDP growth and productivity should surprise on the high side of expectations at some point during the second half of this year," she wrote. She also struck an optimistic tone for tech stocks. "During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. But not everyone shares Wood's bullish outlook. Her flagship Ark Innovation ETF has seen $2.02 billion in net outflows over the past year through May 29, including nearly $144 million in the last month alone, according to ETF research firm VettaFi. On May 28, Wood's Ark funds bought 251,080 shares of Tempus AI (TEM) . That chunk of stock was valued at roughly $13.9 million as of May 30's close. Wood has been actively buying Tempus AI's stock since last June's IPO. Former Speaker of the House Nancy Pelosi also bets on this stock. In January, Pelosi bought 50 call options (a bet that a stock will rise) for Tempus AI valued at least $50,000. Related: Cathie Wood buys $2.7M surging China tech stock after tariff talks Tempus AI is a health technology company founded in 2015. It uses AI for diagnostics and helps physicians make personalized, data-driven decisions. The stock plunged more than 19% on May 28 after short-seller Spruce Point Capital Management released a report raising concerns about management's alleged history of promoting disruptive technology companies with revenue recognition issues and shareholder losses. The report also questioned the validity of Tempus AI's artificial intelligence services, citing minimal revenues and product demonstrations. Tempus AI responded that the report is "riddled with hypotheticals and inaccuracies and fails to address Tempus' history of strong financial performance and impressive growth." Wood's team said it has investigated the credibility of these allegations. The team believes that Tempus AI "remains focused on delivering data-driven, AI-enabled, patient-centered diagnostics and improving outcomes through precision medicine," according to a weekly letter to investors. Despite that tumble, Tempus AI stock has surged 63% year-to-date. On May 6, the company reported first-quarter results, with revenue climbing 75.4% year-over-year to $255.7 million. Gross profit surged 99.8% to $155.2 million, driven by continued margin gains in its Genomics and Data and Services segments. It raised its full-year 2025 revenue forecast to $1.25 billion, reflecting roughly 80% growth from the previous year. However, the company is still not profitable, and net loss for the quarter widened to $68 million from $64.7 million. Wood says health care is the "most underappreciated application of AI." "We've got 37 trillion cells in our body, and they're going to be sequenced as we're looking for cures," Wood told CNBC in February. "I think the most underappreciated application of AI is health care. I think health care is responsible for an incredible amount of storage out there right now. Data is the name of the game." Fund manager buys and sells See a big stock rally ahead? Be patient, money manager saysFund manager, skeptical of AI, backs shocking stockVeteran fund manager sends surprising message on the weak dollar As of May 31, Tempus AI ranked sixth among Ark Innovation ETF's holdings, accounting for 5.1% of the portfolio with a market value of $284.8 million. Wood's latest trades this week also include buying shares of Nvidia (NVDA) , Advanced Micro Devices (AMD) , Iridium Communications (IRDM) , Intuitive Machines (LUNR) , and Intellia Therapeutics (NTLA) . At the same time, she trimmed positions in Tesla (TSLA) , Roblox (RBLX) , and CoreWeave (CRWV) . Related: Top analyst sends bold message on S&P 500 The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Bloomberg
20-05-2025
- Business
- Bloomberg
Cathie Wood Buys Most TSMC Depositary Receipts in Nearly a Year
Cathie Wood's funds made their biggest purchase of Taiwan Semiconductor Manufacturing Co. shares in nearly a year, underscoring a change in stance from being mostly sellers of the chipmaker since the third quarter of last year. Wood's flagship fund Ark Innovation ETF purchased 123,587 American depositary receipts of Taiwan's largest company on Monday, while Ark Next Generation Internet ETF bought 74,189 ADRs, Ark Investment Management LLC data compiled by Bloomberg show.
Yahoo
17-05-2025
- Business
- Yahoo
Cathie Wood buys $2.7M surging China tech stock after tariff talks
Cathie Wood, founder and chief of Ark Investment Management, is best known for backing cutting-edge tech like AI and robotics, with most of her investments focused on U.S. companies. But this week, she made a move in China, picking up $2.7 million worth of a Chinese tech stock as trade tensions between Washington and Beijing showed signs of easing. 💵💰Don't miss the move: Subscribe to TheStreet's free daily newsletter 💰💵 In early April, President Donald Trump raised tariffs on Chinese goods to as high as 145%, setting off tensions between the world's two biggest economies and triggering a sharp market sell-off. Last week, the two sides reached a deal in Geneva: the U.S. will cut those tariffs to 30% for the next three months, while China agreed to lower its own duties on U.S. imports to 10% from 125%. Wood's funds saw a brief bump after Trump won the presidency last November, but that momentum didn't go far. Her flagship Ark Innovation ETF () underperformed both the S&P 500 and Nasdaq Composite through March and April amid broader market volatility. However, as of May 16, ARKK has started to recover, showing a 1.32% gain for the year, slightly ahead of the S&P 500's 1.30% gain and outperforming the Nasdaq's 0.52% loss. Wood gained a remarkable 153% in 2020, which helped build her reputation and attract loyal investors. Still, her long-term performance has made many others skeptical of her aggressive style. As of May 16, Ark Innovation ETF, with $5 billion under management, has delivered a five-year annualized return of just 0.59%. In comparison, the S&P 500 has an annualized return of 17.57% over the same period. Wood's investment strategy is straightforward: Her Ark ETFs typically buy shares in emerging high-tech companies in fields such as artificial intelligence, blockchain, biomedical technology, and robotics. Wood says these companies have the potential to reshape industries, but their volatility leads to major fluctuations in Ark funds' Ark Innovation ETF wiped out $7 billion in investor wealth over the 10 years ending in 2024, according to an analysis by Morningstar's analyst Amy Arnott. That made it the third-biggest wealth destroyer among mutual funds and ETFs in Arnott's ranking. Wood says the U.S. is coming out of a three-year 'rolling recession' and heading into a productivity-led recovery that could trigger a broader bull market. In a letter to investors published on April 30, she dismissed predictions of a recession dragging into 2026, as she expects "more clarity on tariffs, taxes, regulations, and interest rates over the next three to six months." "If the current tariff turmoil results in freer trade, as tariffs and non-tariff barriers come down in tandem with declines in other taxes, regulations, and interest rates, then real GDP growth and productivity should surprise on the high side of expectations at some point during the second half of this year," she wrote. She also struck an optimistic tone for tech stocks. "During the current turbulent transition in the U.S., we think consumers and businesses are likely to accelerate the shift to technologically enabled innovation platforms including artificial intelligence, robotics, energy storage, blockchain technology, and multiomics sequencing," she said. Not all investors share Wood's optimism. The Ark Innovation ETF has seen a net outflow of $2.01 billion over the past 12 months through May 14, with $208.41 million exiting in the past month, according to ETF research firm VettaFi. On May 12, Wood's Ark Autonomous Technology & Robotics ETF () bought 30,217 shares of Baidu Inc () . That chunk of stock is valued at roughly $2.7 million. Primarily known as China's top search engine, Baidu has shifted its focus to artificial intelligence and autonomous mobility. The company recently launched its new AI model, Ernie X1 and Ernie 4.5, positioning itself as a rival to OpenAI and DeepSeek. This isn't Wood's first move on Baidu or on Chinese tech in general. In the early 2020s, she was bullish on major Chinese tech names, building sizable positions in Baidu, Tencent, and early 2021, The Ark funds held nearly 5 million shares of Baidu, worth around $1 billion, reflecting her optimism on China's market momentum and Baidu's push into electric vehicles, a play that echoed her long-standing position in Tesla () . However, Wood's China investment hit hard in 2021 as Beijing's regulatory crackdown on tech firms intensified, and she gradually reduced her stakes. By the third quarter of 2022, Ark had fully exited Baidu. Wood returned to the name on March 24 this year, buying 129,451 shares — her first Baidu purchase in over two years. She added another 136,773 shares in April, followed by this latest May buy. Baidu shares are up roughly 6% in the past month. In a March interview with Bloomberg, Wood talked about how Robin Li, Baidu's CEO, is working to grow the company's self-driving business. More Tech Stocks: Amazon makes move that the White House hates, then walks it back Analyst reboots Apple stock price target ahead of earnings Controversial EV tax credits will be bad news for Tesla "We had a conversation very recently with Robin Li and his team and we understand how competitive the market is in China for both autonomous mobility and large language models. But we are looking at how Robin Li is pushing the envelope. Wuhan is the toughest in China. He can take learnings from that robotaxi experience into other markets," Wood said. "We believe that autonomous mobility in the next 5 to 10 years is going to scale globally to an $8 to $10 trillion market. If Baidu were to get any of that market even outside of China in the rest of Asia, we think that's not at all discounted in the stock," she added. Baidu stock is up 6.29% year-to-date.
