Asset manager Cathie Wood, chief executive of Ark Investment Management, traded again on Tuesday, buying a major cryptocurrency stock and selling shares of a big electric vehicle maker.
She also continued her purchases of biotechs, bought into a Chinese electric vehicle maker, and acquired shares of a maker of robotic systems. (All valuations are as of Tuesday’s close.)
Wood bought Coinbase (COIN) , the largest U.S. cryptocurrency exchange, for the second day in a row. In January, Ark said bitcoin could reach $1 million by 2030. It recently traded at $47,288.
On Tuesday, Ark funds snapped up 288,171 shares of Coinbase, valued at $58.9 million.
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Ark funds sold EV leader Tesla (TSLA) – Get Tesla Inc Report for the second time in a week. Wood has said that her sales of the stock are designed to take profits and that she still believes in the Austin company. Tesla remains the biggest holding in Wood’s flagship fund, Ark Innovation ETF (ARKK) – Get ARK Innovation ETF Report.
On Tuesday, Ark funds unloaded 52,335 shares of Tesla, valued at $57.5 million.
As for the biotechs, they are companies Ark recently bought, too. Ark Genomic Revolution ETF (ARKG) – Get ARK Genomic Revolution ETF Report snapped up 50,000 shares of Burning Rock Biotech (BNR) , valued at $495,000. Burning Rock is the Guangzhou, China, producer of diagnostic technology for cancer detection. Ark Genomic Revolution also acquired 4,021 shares of Adaptive Biotechnologies (ADPT) – Get Adaptive Biotechnologies Corp. Report, valued at $57,389.
Ark Autonomous Technology & Robotics ETF (ARKQ) – Get ARK Autonomous Technology & Robotics ETF Report bought 30,520 shares of Chinese electric vehicle maker BYD (BYDDY) , valued at $1.6 million.