Cathie Wood Keeps Betting On Amazon’s ‘Haul’ Play: Ark Loads Up $6M Worth Of Shares

On Thursday, Ark Invest, led by Cathie Wood, made significant trades in Amazon.com Inc. AMZN and Rocket Lab USA Inc. RKLB, according to the firm’s daily trade data.

The Amazon Trade

Ark picked up 28,509 Amazon shares for ARK Autonomous Technology & Robotics ETF ARKQ, Ark Fintech Innovation ETF ARKF, and ARK Space Exploration & Innovation ETF ARKX in a transaction valued at $6.03 million. As of Thursday, Amazon’s stock closed at $211.48, reflecting a decrease of 1.22%.

Ark Invest’s move on Amazon comes in the wake of the e-commerce giant’s recent launch of a low-cost online storefront, “Haul”, designed to compete with Chinese e-commerce platforms. According to a report, Amazon initiated discussions with China-based sellers earlier this year about offering a similar service. The exact details of Ark’s trade in Amazon were not disclosed in the data provided.

The Rocket Lab Trade

Ark Invest sold 627,775 shares in Rocket Lab, valued at almost $10.09 million. The trades were made through the ARKQ and ARKX ETFs.

This sale followed a significant surge in Rocket Lab’s shares, which shot up over 28% to $18.83 on Wednesday. As of Thursday, Rocket Lab’s stock closed at $17.36, reflecting a decrease of 7.81%.

The earlier surge was triggered by the company’s announcement of better-than-expected third-quarter financial results, a multi-launch agreement with a confidential commercial satellite constellation operator, and a federal defense contract worth up to $8 million.

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Other Key Trades:

• Ark continued to purchase shares of eVTOL companies like Archer Aviation Inc. ACHR and Joby Aviation Inc. JOBY on Thursday. The firm picked up 409474 ACHR shares worth $1.76 million and 303674 JOBY shares worth $1.8 million.
• The Wood-led firm purchased 2,706 shares of Advanced Micro Devices, Inc. AMD, worth $375,701, through its ARKX fund.
• Ark Invest bought shares of Schrodinger Inc (SDGR) and shares of Guardant Health Inc (GH) through its ARK Genomic Revolution ETF (ARKG).
• The firm also sold shares of Moderna Inc (MRNA) and shares of Repare Therapeutics Inc (RPTX) through the same ETF.

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal