Investing

Cathie Wood’s Ark Invest Buys Over 5 Million Shares of Skillz

Pineapple Studio / Getty Images

One ARK exchange-traded fund run by ETF star Cathie Wood bought over 5 million shares of Skillz Inc. (NYSE: SKLZ) shares on Wednesday, as the prices of these ETFs traded up around 2% in Wednesday’s session. The ETF is up well over 100% in the last year.

ARK Innovation ETF (NYSEARCA: ARKK) bought 4,014,903 shares of Skillz and ARK Next Generation Internet ETF (NYSEARCA: ARKW) bought 1,056,186 shares as well. At Wednesday’s closing price this would have valued this purchase at roughly $85 million. This is only a small fraction of the total holdings. ARKK is up 145%, and ARKW is up 156% over the past 52 weeks.

24/7 Wall St. last reported on Skillz:

Skillz Inc. (NYSE: SKLZ) develops and operates an e-sports platform to host and connect mobile games and mobile e-sports tournaments both in the United States and internationally.

Since completing a reverse merger in mid-December, shares have added about 3.4% to post a high of $24.69. Since the merger with a blank check company was announced in early September, the stock has more than doubled. Shares currently trade around $23.20 and there are no analyst forecasts on the stock yet.

Catherine Wood, the CEO and CIO of ARK Investment Management LLC is a minority and non-voting shareholder of 24/7 Wall St., LLC, owner of a673b.bigscoots-temp.com.

100 Million Americans Are Missing This Crucial Retirement Tool

The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.

Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.

A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.

Click here to learn how to get a quote in just a few minutes.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.