Cathie Wood Watch: Ark Buys Meta and Pares Coinbase

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The Street

By Dan Weil Cathie Wood, chief executive of Ark Investment Management, on Friday traded three of her top-name stocks. Ark funds bought 82,353 shares of Meta Platforms (META) – Get Free Report, parent of Facebook, Instagram and Whatsapp, valued at $25.4 million as of Friday’s close. The timing is a bit curious given that the stock has more than doubled (up 157%) so far this year amid an improved outlook for Meta’s earnings. So the shares hardly qualify as a bargain. But they are still down 9% over the past two years. Meta is the 25 biggest holding in Wood’s flagship Ark Innovation ETF (ARKK) – …

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