Latest news with #Wood
Yahoo
4 hours ago
- Business
- Yahoo
Cathie Wood shells out $22.8M to acquire hot new pick
Cathie Wood shells out $22.8M to acquire hot new pick originally appeared on TheStreet. It seems Ark Invest CEO Cathie Wood has become so fond of her new favorite crypto stock that she is willing to let go of her old favorites. On July 28, the investment firm again bought $22.8 million worth of 572,853 BitMine Immersion Technologies (NYSE: BMNR) shares across three funds. ARK earlier purchased $182 million in BMNR shares, with Wood going so far as to say her investment in the firm is a "vote of confidence." Fundstrat's Tom Lee, who recently joined as the Chairman of BitMine's Board of Directors, is very bullish on Ethereum and has set the firm's target of stacking 5% of ETH. Bitmine is the largest Ethereum treasury firm, which holds 625,000 ETH worth $2.35 billion. On July 29, it announced a $1 billion stock repurchase pursuing the acquisition of the new crypto favorite, ARK Invest dumped some of the old favorites. The investment firm sold $6.9 million worth of Coinbase (Nasdaq: COIN) shares, $12.7 million worth of Robinhood Markets (Nasdaq: HOOD) shares, and $15 million worth of Jack Dorsey's Block, Inc. (NYSE: XYZ) shares. While Coinbase is the largest crypto exchange in the U.S., Robinhood offers both stock and crypto trading. Jack Dorsey's Block, Inc., on the other hand, is a fintech firm that has several Bitcoin-focused products. Wood's investment firm still has substantial stock holdings in all these firms. Except for HOOD, all the stocks dipped on July 28. While HOOD rose modestly to close at $106.77, COIN fell nearly 4% to close at $379.49, and XYZ fell less than 1% to close at $80.57. BMNR, the stock Wood has been stacking, dipped as much as 15% to close at $35.11. Cathie Wood shells out $22.8M to acquire hot new pick first appeared on TheStreet on Jul 29, 2025 This story was originally reported by TheStreet on Jul 29, 2025, where it first appeared. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Business
- Yahoo
Cathie Wood shells out $22.8M to acquire hot new pick
Cathie Wood shells out $22.8M to acquire hot new pick originally appeared on TheStreet. It seems Ark Invest CEO Cathie Wood has become so fond of her new favorite crypto stock that she is willing to let go of her old favorites. On July 28, the investment firm again bought $22.8 million worth of 572,853 BitMine Immersion Technologies (NYSE: BMNR) shares across three funds. ARK earlier purchased $182 million in BMNR shares, with Wood going so far as to say her investment in the firm is a "vote of confidence." Fundstrat's Tom Lee, who recently joined as the Chairman of BitMine's Board of Directors, is very bullish on Ethereum and has set the firm's target of stacking 5% of ETH. Bitmine is the largest Ethereum treasury firm, which holds 625,000 ETH worth $2.35 billion. On July 29, it announced a $1 billion stock repurchase pursuing the acquisition of the new crypto favorite, ARK Invest dumped some of the old favorites. The investment firm sold $6.9 million worth of Coinbase (Nasdaq: COIN) shares, $12.7 million worth of Robinhood Markets (Nasdaq: HOOD) shares, and $15 million worth of Jack Dorsey's Block, Inc. (NYSE: XYZ) shares. While Coinbase is the largest crypto exchange in the U.S., Robinhood offers both stock and crypto trading. Jack Dorsey's Block, Inc., on the other hand, is a fintech firm that has several Bitcoin-focused products. Wood's investment firm still has substantial stock holdings in all these firms. Except for HOOD, all the stocks dipped on July 28. While HOOD rose modestly to close at $106.77, COIN fell nearly 4% to close at $379.49, and XYZ fell less than 1% to close at $80.57. BMNR, the stock Wood has been stacking, dipped as much as 15% to close at $35.11. Cathie Wood shells out $22.8M to acquire hot new pick first appeared on TheStreet on Jul 29, 2025 This story was originally reported by TheStreet on Jul 29, 2025, where it first appeared. Sign in to access your portfolio
Business Insider
20 hours ago
- Business
- Business Insider
CRSP, ABSI, IRDM: Cathie Wood Offloads $16.4M of CRISPR Therapeutics Stock, Buys Absci and Iridium
Ace hedge fund manager Cathie Wood made some interesting trades on July 25, according to ARK Invest's daily trade updates. Wood sold $16.46 million worth of biotechnology company Crispr Therapeutics (CRSP) and $2.15 million of defense contractor Kratos Defense (KTOS) stock. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Meanwhile, ARK funds added $6.2 million in biotechnology firm Absci Corp. (ABSI), purchased 262,141 shares of genomic diagnostics company Veracyte (VCYT), and acquired 69,969 shares of satellite company Iridium Communications (IRDM). Wood Buys the Dip in Absci Stock On July 25, Wood loaded up on 2.25 million shares of Absci, totaling $6.2 million. Absci leverages generative artificial intelligence (AI) and synthetic biology to develop novel biologic drugs, primarily antibodies, for pharmaceutical and biotechnology partners. ABSI stock plunged 17.7% on Friday after the company announced a $50 million secondary offering of its common shares. Wood seems to have capitalized on the 'dip' in Absci shares to gain a notable position. All seven analysts tracking ABSI stock have rated it a Strong Buy on TipRanks. The average Absci price target of $9.17 implies an impressive 217.3% upside potential from current levels. Year-to-date, ABSI stock has gained 10.3%. Why Is Wood Dumping CRSP Stock? Wood appears to have taken a bearish stance on gene-editing company Crispr, although she maintains a rather optimistic outlook on the overall genomics sector. On Friday, The ARK Innovation ETF (ARKK) sold 190,840 shares of Crispr worth $12.6 million, and the ARK Genomic Revolution ETF (ARKG) sold another 58,268 shares of CRSP for $3.8 million. Crispr is a Swiss-American biotech company focused on developing transformative gene-based medicines to treat serious diseases such as sickle cell disease, beta-thalassemia, various cancers, type 1 diabetes, and cardiovascular diseases. It uses advanced gene-editing technology, primarily its CRISPR/Cas9 platform, to develop its medicines. Despite the latest sale, CRSP remains the largest holding in the ARKG fund, with a market value of $137.5 million, and is also the fourth largest holding in the ARKK fund, with a market value of $450.6 million. Notably, CRSP stock has surged over 64% so far this year, backed by its revolutionary business model. Crispr is expected to release its Q2FY25 results in August. Wall Street expects CRSP to report a diluted loss of $1.4 per share, 1.3% better than the prior year's loss of $1.49. Revenues are expected to jump nearly 1100% year-over-year to $6.14 million. On TipRanks, CRSP stock has a Moderate Buy consensus rating based on 14 Buys and seven Hold ratings. Also, the average Crispr Therapeutics price target of $69.38 implies 7.1% upside potential from current levels. Year-to-date, CRSP stock has soared 64.5%.
The Herald Scotland
a day ago
- Business
- The Herald Scotland
Deadline for Wood takeover offer postponed for sixth time
The arrangement would include a longer duration for Wood to repay its existing debts via an extension to October 2028, plus an initial cash injection of $250m from Sidara. However, a number of Wood's lenders have yet to agree to the proposal. Read more: Wood said it is working to secure 100% support but in the absence of this it could use a legal process known as a scheme of arrangement, which only requires approval from a majority of creditors representing 75% of outstanding debt. Meanwhile, it has been reported that Sidara is considering reducing the price of its takeover offer following the launch of an investigation by the Financial Conduct Authority (FCA) after an independent review found "cultural failings" with accounting practices at Wood. The nature of the FCA enquiry has not been disclosed, though it covers the period from January 1, 2023 to November 7, 2024. The previous independent review by Deloitte found "material weaknesses and failures" within Wood's projects business and its engagement with the group finance team. This has led to a delay in the publication of Wood's financial accounts for 2024, which were due at the end of April. Wood said it is continuing to work with its auditor to publish those accounts. Read more: Against this backdrop, Wood and Sidara have asked for and received from the Takeover Panel a sixth extension to the "put up or shut up" deadline by which Abu Dhabi-based Sidara must make a firm offer. This will expire at 5pm on August 25. Sidara made its first approach for Wood in May of last year. The Scottish company rejected the initial offer for 205p per share, saying it "fundamentally undervalued Wood and its future prospects". Sidara continued to make advances but in August 2024 withdrew its fourth bid for 230p per share, which valued the company at approximately £1.5 billion, citing "rising geopolitical risks" and broader uncertainty across financial markets. Shares in Wood plummeted thereafter with the company eventually losing its spot in the FTSE 250 index of London mid-caps. Read more: Following the delay in the publication of Wood's 2024 financial accounts, the company's shares were suspended from trading on the London Stock Exchange on May 1 of this year. The remain suspended at 18.44p each. In a separate announcement this morning, Wood also said that it has appointed Paul O'Donnell as a non-executive director of the company. Wood chairman Roy Franklin said Mr O'Donnell, a fellow of Chartered Accountants Ireland, has significant experience of "helping companies navigate similar challenges to those Wood faces today". Mr O'Donnell is described as having more than 25 years' experience of mergers, acquisitions and business transformation, and has previously served on the boards of companies such as Nordic Aviation Capital, The Very Group, and TalkTalk.
Scoop
2 days ago
- Entertainment
- Scoop
New Zealand Portrait Gallery Appoints Brian Wood As Director
The New Zealand Portrait Gallery Te Pūkenga Whakaata is pleased to announce the appointment of curator, writer, arts collector, and marketer Brian Wood as its new Director, effective 18 August 2025. Wood succeeds outgoing Director Jaenine Parkinson, who has taken up the role of Head of Art at the Museum of New Zealand Te Papa Tongarewa. He is no stranger to the Gallery, having served as Acting Director during Parkinson's parental leave in 2021. Chair of the New Zealand Portrait Gallery Board, Dr. Alan Bollard, welcomed the appointment, saying: 'We are delighted to have Brian return to the Gallery. He made a strong impact during his time here and brings a rich and diverse skillset to the role. His background spans marketing, fundraising, curatorial work, public programmes and events. He has led teams of volunteers and managed a private art collection. These experiences, combined with his passion for portraiture, make him ideally suited to help the Gallery continue telling the stories of New Zealanders through art.' Reflecting on his return, Wood said he is thrilled to step back into the Gallery: It feels incredibly special to return—not just to a place I know and love, but to a role where I can help shape the Gallery's future. Stepping into this role feels like coming home, but with a renewed sense of purpose and possibility. I had a fantastic experience in 2021 and achieved a lot during my time there. I'm looking forward to building on that momentum and continuing the strong exhibition programme. I deeply value the Gallery's role as a storyteller of Aotearoa's people.' Originally from the Kāpiti Coast, Wood has lived and worked in Wellington, London, Melbourne, Dunedin, Auckland, and now South Wairarapa. He holds a Bachelor of Fine Arts from the School of Art at Otago Polytechnic and has held positions with The Dowse Art Museum, Te Omanga Hospice, Royal New Zealand Ballet, City Gallery Wellington, and Museums Wellington. 'Since finishing up my previous role with the Gallery, I've stayed closely connected to the arts and cultural sector—managing a performing arts company, serving as a trustee for an arts charity, reviewing funding applications, curating exhibitions, and even working in the wine industry. My time as Acting Director in 2021 was deeply meaningful—it strengthened my appreciation for the Gallery and its team. Returning now feels like both a continuation and a new beginning.' Looking ahead, Wood has ambitious plans to grow the Gallery's reach and impact: 'As we enter this next chapter, I want the Gallery to be a place where people see themselves reflected—not just in the portraits, but in our programming, exhibitions, and conversations. That means uplifting underrepresented voices, embracing diverse styles of portraiture, and nurturing emerging talent alongside our established artists. 'We're also exploring ways to increase accessibility and engagement—through digital platforms, regional outreach, education initiatives, touring exhibitions, and vibrant in-Gallery events. I want the Gallery to be a living, evolving space—one that not only reflects New Zealand's identity but helps shape, inspire, and challenge it.'
