ARK Invest’s Cathie Wood Dumps AI Stock for New Market Player

Cathie Wood, head of ARK Investment Management, is known for her trading prowess. Wood had recently sold her Coinbase shares after the firm released its stellar Q4 earnings report. Her trading expertise has often been lauded by experts and acknowledged by intellectuals across the board. 

Cathie Wood sold her AI stock shares and bought 182,000 shares of Roku, a notable streaming platform. 

Also Read: Ark Invest’s Cathie Wood Expresses Qualms about ETFs beyond BTC and ETH 

Next Stock Alert: Cathie Wood Purchases Roku Shares

The head of ARK Investment Management seems to be diversifying her trading portfolio. Reportedly, Cathie Wood has sold her AI stock hoard to scoop up shares of Roku, a notable streaming platform. 

Interestingly, Roku is primarily known for its streaming devices but generates most of its revenue through its platform segment. 

Based on an ad revenue setup, Roku noted a slight increase of 14% in its revenue this year. The firm also added 10 million new accounts in 2023, reiterating that content viewing platforms have robust wings with gradual growth prospects.

However, Roku’s recent market metrics are slightly questionable. The firm’s recent stock market metrics have noted a sharp decline. Walmart’s decision to purchase its competitor, Vizior, further expedited Roku’s fall. The enterprise documented a 30% fall in its price since 2024, striking out notable gains that the firm had earlier generated. 

However, Wood seems to be making the most of Roku’s recent price plunge. Per the new report, Wood has purchased 182,000 worth of Roku shares. 

Also Read: Coinbase is Executing Brilliantly, Says Cathie Wood After Selling COIN Shares Worth $26.7 Million.

Wood’s Strategic Way to Maneuver a Complex Stock Market

Ark Invest’s stock market trajectory isn’t hard to decode. Wood generally rummages through booming sectoral niches to draw sizable profits. The head of ARK Investment has always explored high-technology categories of artificial intelligence, blockchain, DNA sequencing, energy storage, and robotics to buy the dips in. 

Speaking about Wood’s ability to spot winners in the long run, Morningstar analyst Robby Greengold stated:

“But Ark’s ability to spot the winners among them and navigate their myriad risks is less so. The strategy’s booms and busts have culminated in middling total returns and extreme volatility since its 2014 inception.”