Ark Invest Stocks With Big Moves Last Week

By Douglas A. McIntyre Published Jan 16, 7:26AM EST

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Ark Invest Stocks With Big Moves Last Week — © samxmeg / E+ via Getty Images

Commentary from Ark Invest:

We share weekly commentaries with investors on stocks in our strategies that have appreciated or dropped more than 15% in a day during the course of the week. We hope you find this commentary useful.

Grayscale Bitcoin Investment Trust (GBTC)

Down 16%

Grayscale Bitcoin Investment Trust, a trust tracking bitcoin’s market price, dropped nearly 16% on Monday, three days after bitcoin hit an all-time high of $41,900. After nearly quadrupling in the last three months, we believe bitcoin’s sell-off this week was neither surprising nor alarming. It has recovered more than 15% since bottoming earlier this week.

Editas Medicine (EDIT)

Down 15%

Editas Medicine, a gene editing company harnessing the power of CRISPR Cas9 and Cas12a, traded down 15% on Monday after announcing that its Chief Scientific Officer (CSO), Charles Albright, is resigning to pursue another opportunity. Counterbalancing that announcement to some extent, Editas also disclosed that the FDA approved its Investigational New Drug (IND) application for EDIT-301, its ex vivo gene edited therapy for sickle cell disease. That said, the trial is on partial hold until Editas can improve the potency of its assay. For now, patients can be dosed to assess EDIT-301’s safety but not its efficacy.

LendingTree (TREE)

Up 16%

LendingTree, appreciated more than 16% on Tuesday after disclosing better than expected preliminary fourth quarter 2020 earnings, thanks to a surge in the Home segment which includes mortgage-related revenue and a recovery in the Consumer segment. LendingTree operates a financial services platform that originates, processes, approves, and funds real estate, consumer, auto, and business loans and insurance.

Nano Dimension (NNDM)

Up 21%

Nano Dimension appreciated more than 21% on Wednesday after pricing a secondary offering. Nano Dimension is a leader in 3D printed high performance electronic devices. On Tuesday Nano Dimension was granted a new patent for rigid-flexible printed circuit board fabrication using inkjet printing.

Stratasys (SSYS)

Up 16%

Stratasys appreciated 16% on Thursday after 3D Systems announced that it would report an upside surprise in fourth quarter revenues and earnings, suggesting that the 3D printing industry is gaining traction in the recovery from the COVID-19 crisis. Moreover, during a presentation at the Needham Growth Conference, Stratasys announced that it expects to report sequential revenue growth for the fourth quarter. Management emphasized that COVID-19 has created supply chain vulnerabilities that 3D printing is well-suited to address.

Aerovironment (AVAV)

Up 30%

Aerovironment appreciated 30% on Thursday after announcing an agreement to acquire Arcturus UAV, a leader in military unmanned aircraft systems. We believe the stock may also have been impacted by an ARK 485(a) filing with the SEC.

Catherine Wood, ARK Invest CEO, is a shareholder of 24/7 Wall St. LLC.

About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.