Cathie Wood's ARK Had Heavy Trading on Thursday, Led by the Massive Purchase of GitLab Shares
Go Wire
December 27, 2024
GoGPT Summarizes Articles
Cathie Wood's ARK ETF made significant trades about tech and biotech stocks on Thursday, December 26. Thursday's trading volume was led by a large buy of shares of GitLab Inc $GTLB.
In tech stocks, ARK's flagship ARKK ETF added 219,606 shares of GitLab Inc, valued at about $13.3 million. The purchase following a continued acquisition of its shares over days emphasized ARK's constant trust in the DevOps platform provider.
ARK also continues increasing its stake in gene editing technology leader CRISPR Therapeutics AG $CRSP. It purchased 57,889 shares on Thursday, totaling about $2.4 million, after buying more than 35,000 shares on December 24th.
On the contrary, ARK sold 103,410 shares of Palantir Technologies Inc $PLTR, valued at about $8.5 million. The sale continued ARK's sell-off of the data analytics company's stock. ARK already reduced its holdings by over 42,000 shares and more than 22,000 shares on Dec. 24 and Dec. 23, respectively.
Similarly, ARK sold 15,342 shares of Block Inc $SQ, a payment solutions company, for a total value of about $1.4 million. The sale follows ARK's disposal of more than 23,000 shares of Block on Dec. 24.
In terms of biotech stocks, on the one hand, ARK, through its ARKK and ARKG ETFs, made a small purchase of 9,256 shares of 10X Genomics Inc $TXG valued at about $136,000. On the other hand, it sold 75,957 shares of Adaptive Biotechnologies Corp $ADPT and 741 shares of Veracyte Inc $VCYT.
Because Cathie Wood's ETF guides the market with a concentration on growing innovative firms, investors will watch its trend of selective reductions and intentional additions.
#$Veracyte Inc.(VCYT)#$Adaptive Biotechnologies Corporation Common Stock(ADPT)#$10x Genomics Inc. Class A Common Stock(TXG)#$Block Inc.(SQ)#$Palantir Technologies Inc. Class A Common Stock(PLTR)#$CRISPR Therapeutics AG(CRSP)#$GitLab Inc. Class A Common Stock(GTLB)