Cathie Wood's ARK ETFs have made their daily trades for Thursday, December 26th, 2024, with significant activity across a range of tech and biotech stocks. Leading the day's trades was a substantial purchase of GitLab Inc (NASDAQ:GTLB) shares, with ARK's flagship ARKK ETF adding 219,606 shares valued at approximately $13.3 million. This move underscores ARK's continued confidence in the DevOps platform provider, following a pattern of accumulation over recent days, including a purchase of nearly 270,000 shares just two days prior.
In contrast, ARK took a step back from Palantir Technologies Inc (NYSE:NASDAQ:PLTR), selling 103,410 shares worth about $8.5 million. This sale marks a continuation of ARK's sell-off in the data analytics firm, having reduced its position by over 42,000 shares on December 24th and by over 22,000 shares on December 23rd.
Another notable transaction was ARK's sale of 15,342 shares of Block Inc (NYSE:SQ), the payment solutions company formerly known as Square, totaling roughly $1.4 million. This sell-off comes on the heels of ARK divesting over 23,000 shares of Block on December 24th.
ARK also bolstered its investment in CRISPR Therapeutics AG (NASDAQ:CRSP), a company at the forefront of gene-editing technology, buying 57,889 shares with a total dollar value of approximately $2.4 million. This follows a recent trend of ARK increasing its stake in CRISPR, as evidenced by the purchase of over 35,000 shares on December 24th.
In the biotech space, ARK's trades included a smaller purchase of 10X Genomics Inc (NASDAQ:TXG), acquiring a combined 9,256 shares across its ARKK and ARKG ETFs, valued at around $136,000. Meanwhile, ARK continued to pare down its holdings in Adaptive Biotechnologies Corp (NASDAQ:ADPT) and Veracyte Inc (NASDAQ:VCYT), selling 75,957 and 741 shares, respectively.
Investors following ARK's movements will note the trend of selective trimming and targeted buying, as Cathie Wood's ETFs navigate the market with a focus on innovative companies poised for growth. Each trade reflects ARK's strategic adjustments, balancing between sectors and individual stock prospects.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.