Ark ETFs also bought shares of a 3D printer maker and a robotics software provider.
Renowned investor Cathie Wood, chief executive of Ark Investment Management, on Tuesday continued her recent patterns, buying biotechnology stocks, a spectrometry stock, a 3D printer maker and a robotics-software stock.
She also sold a financial technology stock. (All the valuations below are as of Tuesday’s close.)
Ark Genomic Revolution snatched 100,007 shares of spectrometry company 908 Devices (MASS) , valued at $1.9 million.
Spectrometry has applications in detection of chemicals, explosives and illegal drugs as well as in medicine and other fields.
908 Devices, Boston, went public in December 2020. The stock is currently trading at about a third of its 52-week high near $56, set almost a year ago.
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Ark Fintech Innovation ETF (ARKF) – Get ARK Fintech Innovation ETF Report snagged 67,417 shares of robotics-software company UiPath (PATH) – Get UiPath Inc Class A Report, valued at $1.3 million. Ark funds bought 50,880 shares of 3D printer maker Stratasys (SSYS) – Get Stratasys Ltd. Report, valued at $1.1 million.
Wood recently sold Twitter TWTR shares, including Monday. She told CNBC Tuesday that regardless of whether Tesla (TSLA) – Get Tesla Inc Report CEO Elon Musk joins the board of the microblogging provider, Twitter is going to face “a lot of management distraction.”
It has to balance its advertising model against the need to police content on the self-proclaimed global town square, Wood said. Musk was set to join the board but ultimately decided against it.
“Maybe the model isn’t right around advertising, maybe it is subscription,” said Wood, whose Ark still owns a 1.8% stake in the group, compared with Musk’s 9.1% holding.
“One thing for sure in [Musk’s] mind is it should not include censorship. And I think he feels very strongly about that.”