TLDR
- ARK Invest sold $26.65M in Robinhood shares after the company announced a 10% workforce cut, boosting its stock price
- ARK sold roughly $77M in Roku shares across multiple funds following Fox’s $22 billion acquisition deal at $160 per share
- ARK bought $46.18M in Eli Lilly shares after a pullback, following Lilly’s acquisition of neuroscience firm 4E Therapeutics
- ARK added $18.92M in Coinbase shares as the company expands into tokenized U.S. stocks and AI-driven investing tools
- Tesla remains ARK Innovation ETF’s largest holding at 9.50%, with SpaceX now in the top five positions
Cathie Wood’s ARK Invest made a series of large trades on June 18, selling nearly $60 million to $77 million worth of stock in Robinhood and Roku while buying into Eli Lilly, Coinbase, and other growth names.
The moves came as both stocks had just rallied on specific news events, giving ARK a clear window to lock in gains.
ARK sold 275,572 Robinhood shares through its ARK Innovation ETF, worth about $26.65 million. The sale followed Robinhood’s announcement that it would cut roughly 10% of its full-time workforce, around 290 jobs, as CEO Vlad Tenev focused on keeping the company lean. That news lifted the stock and drew analyst price target upgrades.
For Roku, ARK sold a combined 239,267 to 561,800 shares across ARKK, ARKW, and ARKF, worth between $33 million and $77.57 million depending on the fund breakdown used. The sales came after Fox agreed to buy Roku in a $22 billion deal at $160 per share, pushing Roku’s price close to that ceiling. With a firm acquisition price set, the stock’s upside was largely capped.
ARK Moves Cash Into Eli Lilly and Coinbase
ARK used those proceeds to buy into names where it sees fresh catalysts ahead.
Eli Lilly was the biggest buy. ARK picked up 41,138 shares through its ARK Genomic Revolution ETF, putting about $46.18 million into the drugmaker after the stock pulled back. Lilly recently acquired 4E Therapeutics, a neuroscience company working on non-opioid treatments for chronic pain. That adds a new pipeline angle beyond Lilly’s existing obesity and diabetes drugs.
Coinbase was the next largest purchase. ARK bought 111,799 shares across multiple funds for about $18.92 million. Coinbase has been rolling out tokenized U.S. stocks for international users and AI-driven investing tools, pushing it toward a broader financial platform model rather than just a crypto exchange.
ARK also bought $17.68 million in Block shares and added smaller biotech positions.
SpaceX Enters Top Five Holdings
The rotation didn’t happen in isolation. Earlier in the week, ARK had built a major post-IPO position in SpaceX, buying nearly 3.3 million shares worth about $531 million by the end of its first trading day.
Meanwhile, Tesla CEO Elon Musk exercised stock options in a separate SEC filing, acquiring roughly 303.96 million shares at a $23.34 strike price while surrendering around 17.53 million shares to cover a $7.09 billion tax bill. Musk now holds approximately 699.58 million shares, representing a 19.9% voting stake in Tesla.
Tesla remains ARK Innovation ETF’s largest holding at 9.50%. Robinhood is second at 4.93%, followed by CRISPR Therapeutics at 4.87%, Tempus AI at 4.83%, and SpaceX at 4.71%.
The latest trades suggest ARK is moving cash away from stocks where near-term catalysts have already played out and toward companies where the next move is still ahead.
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