Cathie Wood Dumps $12.7 Million Worth of Meta Stock Amid Ray-Ban Smart Glasses Delay, Ark Loads Up On This Gaming Platform

3 days ago 12

On Tuesday, Cathie Wood-led Ark Invest made important trades involving Meta Platforms Inc. (NASDAQ:META), Roblox Corp. (NYSE:RBLX), and Kodiak AI Inc. (NASDAQ:KDK).

Ark Invest executed a notable divestment in Meta Platforms on Tuesday, selling a full of 19,316 shares across ARK Blockchain & Fintech Innovation ETF (BATS:ARKF), ARK Innovation ETF (BATS:ARKK), and ARK Next Generation Internet ETF (BATS:ARKW).

The determination comes arsenic Meta faces challenges with its Ray-Ban astute glasses planetary launch, which has been delayed owed to overwhelming U.S. demand. The shares were sold astatine a closing terms of $660.62, amounting to astir $12.7 million.

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The Mark Zuckerberg-led company’s strategical absorption connected integrating precocious features similar the Neural Band and gesture-based controls into its astute glasses has not gone unnoticed. However, the hold successful planetary rollout highlights the company’s request to prioritize home demand.

Ark Invest made a important acquisition of Roblox shares, acquiring a full of 169,130 shares done its ARKF, ARKK, and ARKW ETFs. The transaction, valued astatine astir $12.8 cardinal based connected the closing terms of $75.83.

Last month, it was reported that Roblox was poised to seizure a important stock of the gaming market, driven by idiosyncratic engagement and innovative content.

Analyst Drew Crum from B. Riley Securities expressed optimism astir Roblox’s future, highlighting its imaginable to go a starring amusement platform. More recently, connected Tuesday, TD Cowen expert Doug Creutz lowered his people for the banal to $70 from $77, citing a slowdown successful December engagement.

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Ark purchased 39,296 shares of Kodiak AI done the ARK Autonomous Technology & Robotics ETF (BATS:ARKQ). The shares were bought astatine a closing terms of $9.70, totaling astir $381,171.

The George Soros-backed Kodiak AI operates successful the driverless motortruck industry. Wood purchased Kodiak AI banal worthy $554,340 connected Monday.