Cathie Wood’s ARK Invest ETFs (exchange-traded funds) published their latest trades for Friday, November 14, revealing new bets across AI, biotech, and digital infrastructure names. The biggest move was a trim in Pinterest (PINS), the social media platform, while new capital flowed into Bitmine Immersion Technologies (BMNR), a crypto-infrastructure firm, and biotech stocks Twist Bioscience (TWST) and Beam Therapeutics (BEAM).
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Wood Sells PINS and IRDM Stocks
The largest sale came from Pinterest. ARK Innovation sold 1,876,328 shares worth about $50.2 million, after reducing the position the day before with a smaller sale of 572,735 shares valued at roughly $15.6 million.
The move follows Pinterest’s latest quarterly results, where the company missed earnings estimates and issued guidance that fell short of expectations. During the call, Pinterest CFO Julia Donnelly noted “pockets of moderating ad spend” across the U.S. and Canada, which may have contributed to softer sentiment.
ARK also reduced its position in Iridium Communications (IRDM), a satellite services provider, offloading 49,041 shares valued at about $818,494 and extending a selling trend that has continued over the past week.
ARK Loads Up on BMNR and Biotech Stocks
On the buy side, Bitmine Immersion was the key addition. ARK bought 169,407 shares through three funds: ARK Innovation (ARKK), ARK Next Generation Internet (ARKW), and ARK Fintech Innovation (ARKF). The purchase was worth about $6.19 million.
This came a day after an even larger move, when ARK purchased 242,347 shares for about $9.8 million. The two consecutive buys show rising confidence in Bitmine and its role in crypto and AI.
Biotech was another clear focus. ARK added 184,505 shares of Twist Bioscience for about $5.51 million, continuing a steady buying trend throughout the week. The fund also added 138,677 shares of Beam Therapeutics worth roughly $3 million.
Let’s see how these stocks perform using the TipRanks Stock Comparison Tool:
