Cathie Wood Dumps Shopify and Loads Up on DraftKings Stock
The post Cathie Wood Dumps Shopify and Loads Up on DraftKings Stock appeared on BitcoinEthereumNews.com.
TLDR ARK Investment Management bought 97,783 DraftKings shares worth $3.05 million on October 29, 2025 Cathie Wood’s funds purchased over 1 million Pacific Biosciences shares valued at $2.03 million ARK bought 221,801 shares of 10X Genomics for $2.96 million across ARKK and ARKG funds The firm sold 3,633 Shopify shares worth $650,161 before quarterly earnings DraftKings stock down 18% year-to-date as ARK buys during price decline Cathie Wood’s ARK Investment Management purchased 97,783 shares of DraftKings on October 29, 2025, according to the firm’s daily trading disclosure. The purchase totaled $3,046,918 and was distributed across the ARKK, ARKW, and ARKF exchange-traded funds. DraftKings Inc., DKNG DraftKings stock has fallen 18% since the start of 2025. The shares also declined 11.1% over the previous five trading sessions before ARK’s purchase. The recent decline came after news that Polymarket plans to enter the U.S. sports betting market. The privately held prediction platform intends to launch sports betting operations in the coming weeks. DraftKings recently bought Railbird Technologies to expand into prediction markets. The acquisition shows the company’s efforts to diversify its product offerings beyond traditional sports betting. Cathie Wood Increases Genomics Holdings ARK made large purchases in the genomics sector on Wednesday. The ARKK fund acquired 1,028,318 shares of Pacific Biosciences for approximately $2,025,786. Pacific Biosciences manufactures DNA sequencing systems and related technology. ARK has been buying Pacific Biosciences stock consistently over the past week. The firm also purchased 221,801 shares of 10X Genomics valued at $2,958,825. The purchase was split between the ARKK and ARKG funds. 10X Genomics produces tools and software for single-cell analysis. ARK has been accumulating shares of the company over recent trading sessions. Both genomics companies will report quarterly earnings next week. The timing of ARK’s purchases may indicate expectations of positive results. ARK Reduces Shopify Position…
