Cathie Wood, the founder and CEO of ARK Invest and one of the most closely watched growth investors on Wall Street, isn’t hiding from the selloff. As markets reacted to Trump’s global tariffs, her firm ARK Invest doubled down on two high-conviction names: Robinhood (HOOD) and GitLab (GTLB).
ARK Loads Up on HOOD and GTLB Despite Market Woes
According to ARK’s daily trade report, Wood’s team bought 6,875 shares of Robinhood and 2,689 shares of GitLab on Wednesday. That’s before the full market reaction to Trump’s tariff blitz kicked in.
The buying didn’t stop there. On Thursday, ARK bought another 36,250 shares of Robinhood — worth nearly $1.39 million at the time — and 27,431 GitLab shares, split between ARKK and ARKW ETFs. That purchase totaled around $1.17 million.
HOOD and GTLB were the only two names ARK bought across its core funds both days.
ARK Dumps Prime, Repare, and UiPath
At the same time, ARK cleared out some underperformers. The firm sold 19,903 shares of Prime Medicine (PRME) and 73,541 shares of Repare Therapeutics (RPTX) on Wednesday. On Thursday, they unloaded another 119,913 shares of RPTX, plus 343,318 shares of UiPath (PATH) — a $3.5 million swing, according to ARK’s own trade logs.
Wood Predicts Recession and Expects Fed to Step In
Back in late March, before Trump’s “Liberation Day” tariff announcement, Wood told Bloomberg she believed the U.S. economy was already in a “rolling recession.” She pointed to collapsing money velocity and consumer anxiety. But she also said that could open the door to Fed rate cuts and tax relief later this year.
Stocks Slide Despite the Support
So far, the market isn’t cheering. Robinhood dropped 10.4% Thursday and slid another 7% Friday morning. GitLab lost 12% Thursday and is down 25% year-to-date. Even so, Wood’s continued buying signals she sees long-term upside — even if things get messier before they improve.
Is HOOD a Good Stock to Buy?
Analysts are cautiously optimistic about HOOD stock, with a Moderate Buy consensus rating based on 14 Buys and five Holds. Over the past year, HOOD has increased by more than 80%, and the average HOOD price target of $68.94 implies an upside potential of 102% from current levels.
Is GitLab Stock a Good Buy?
Analysts remain bullish about GTLB stock, with a Strong Buy consensus rating based on 19 Buys and three Holds. Over the past year, GTLB has decreased by 30%, and the average GTLB price target of $78.19 implies an upside potential of 96.5% from current levels.
