Cathie Wood's Ark Loads Up Another 1.2 Million Shares In Skillz, Also Adds Coinbase, DraftKings

Cathie Wood-led Ark Investment Management on Thursday snapped up 1.2 million shares of the mobile gaming company Skillz Inc (NYSE: SKLZ), its biggest trade of the day among a total of two dozen stocks that it bought and sold during the day.

The investment firm deployed the Ark Innovation ETF (NYSE: ARKK) to buy 1,222,207, shares estimated to be worth about $20 million based on Skillz Thursday close of $16.57.

The shares of the company, which was Benzinga’s “Prep Stock Of The Day” on Thursday, closed 1.13% lower on Thursday but were up 7.24% in the after-hours.

Skillz shares reached their all-time high of $46.30 on Feb. 10 but have been since on a downturn amid short-seller allegations. This week the stock made a breakaway signaling a bottom may have been found.

See Also: What Went Down With Skillz Stock Today?

Two of the New York-based investment firm’s flagship funds bought 250,471 shares, in total, of the cryptocurrency exchange Coinbase Global Inc (NASDAQ: COIN), worth about $7.35 million on Thursday’s dip.

Coinbase shares have been falling since its blockbuster debut a week ago and have come below the $300 levels after touching its all-time high of $429.54. Shares fell 5.92% to $293.45 on Thursday and were further down 1.69% in extended hours. 

ARKK bought 195,097 COIN shares representing about 0.25% of the ETF. The  Ark Next Generation Internet ETF (NYSE: ARKW) bought 55,374 COIN shares representing about 0.24% of the ETF.

See Also: Cathie Wood Loads Up Heavily On Debutant Uipath, Trims Tesla

The investment firm also sold 401,748 shares of the payments company Square Inc (NYSE: SQ), estimated to be worth $98.45 million as per Thursday’s close price.

Square is among Ark’s top three holdings.

ARKK sold 333,316 shares of Square representing 0.35% of the ETF and ARKW sold 68,432 shares representing 0.25% of the ETF.

The investment firm’s ARKW ETF sold 43,300 shares of the online signature services company Docusign Inc (NASDAQ: DOCU), representing 0.14% of the ETF worth about $9.5 million as of its Thursday’s close.

ARKW sold 7,200 shares of the online payment company PayPal Inc (NASDAQ: PYPL), representing about 0.03% of the ETF.

PayPal shares closed 0.99% lower at $262.27 on Thursday. It has a 52-week high of $309.14 and low of $109.91.

See Also: Cathie Wood Loads Up On DraftKings, Coinbase, Palantir, Sells Nvidia, Square

Other Ark Buys On Thursday:

• Recursion Pharmaceuticals (NASDAQ: RXRX)
• Ionis Pharmaceuticals (NASDAQ: IONS)
• 908 Devices (NASDAQ: MASS) 
• Iridium Communications (NASDAQ: IRDM) 
• DraftKings (NASDAQ: DKNG) 
• Beam Therapeutics (NASDAQ: BEAM)
• Jaws Spitfire Acquisition (NYSE: SPFR)
• Niu Technologies (NASDAQ: NIU)
• 3D Systems (NYSE: DDD)
• Tencent (OTC: TCEHY)
• Pinduoduo (NASDAQ: PDD) 
• Okta (NASDAQ: OKTA)

Other Ark Sells On Friday:

• LendingTree (NASDAQ: TREE) 
• Phreesia (NYSE: PHR)
• Pluristem Therapeutics (NASDAQ: PSTI)
• Syros Pharmaceuticals (NASDAQ: SYRS)
• Thermo FIsher Scientific (NYSE: TMO)
• PACCAR (NASDAQ: PCAR)
• Roku (NASDAQ: ROKU)
• Nvidia (NASDAQ: NVDA)
• HubSpot (NYSE: HUBS)
• Pure Storage Inc (NYSE: PSTG)