Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made notable portfolio adjustments ahead of Christmas, on December 23, as revealed in daily fund disclosures. The trades reflect ARK’s continued focus on disruptive-innovation technologies such as biotech, autonomous driving, blockchain, and fintech, while trimming positions in areas showing slower growth.
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The largest trade of the day was the purchase of 356,263 shares of Chinese autonomous driving technology company WeRide (WRD), totaling $3.19 million. Wood capitalized on the dip in WeRide shares, which declined by 1.1% yesterday.
Similarly, ARK increased exposure to gene-editing company CRISPR Therapeutics (CRSP), buying 43,333 shares for $2.50 million. CRSP stock also fell, by 2.5% yesterday.
Moreover, Wood added 333,370 shares of gene-sequencing company Pacific Biosciences (PACB). All of these buy trades follow substantial purchases in the past weeks, indicating Wood’s growing interest in disruptive technologies.
Meanwhile, Wood made a single sale of 296 shares of Ibotta (IBTA), continuing with her gradual reduction of the mobile-technology company. IBTA shares were down 2.8% the previous day and have fallen almost 67% year to date.
Wood’s Strategic Portfolio Shuffle
Let’s see how these stocks perform using the TipRanks Stock Comparison Tool:
Currently, analysts have a “Strong Buy” consensus rating on WeRide, with a 66.5% upside potential over the next twelve months. Meanwhile, they remain cautiously optimistic about CRISPR and Pacific Biosciences and keep a “Hold” on Ibotta shares.
