Cathie Wood Trims Spotify And Buys Netflix-Fueled Dip In These 2 Stocks
Cathie Wood-led Ark Investment Management on Wednesday raised its exposure in Roblox Corp (RBLX) and Roku Inc (ROKU) on the dip and sold shares in Spotify Technology SA (SPOT) after streaming giant Netflix Inc (NFLX) announced a massive fall in subscribers.
Cathie Wood-led Ark Investment Management on Wednesday raised its exposure in Roblox Corp (RBLX) and Roku Inc (ROKU) on the dip and sold shares in Spotify Technology SA (SPOT) after streaming giant Netflix Inc (NFLX) announced a massive fall in subscribers. Shares of entertainment stocks came under pressure on Wednesday after Netflix revealed it lost 200,000 users in the first quarter and provided gloomy guidance.
The popular innovation investment fund bought 440,419 shares and 375,425 shares in Roblox and Roku, respectively. Based on Wednesday’s closing price for each stock, these trades are estimated to be worth $16.1 million and $41 million. Roblox shares closed 12.5% lower at $36.75 on Wednesday due to unfavorable general market sentiment. Roku closed 6.2% lower at $109.57.
Germany Will Support Russian Oil Embargo After Significantly Reducing Dependence: Report
According to Fox, Germany will support the European embargo of Russian oil, marking another significant turnaround in the nation’s position on the Russia-Ukraine conflict.
Ford Just Reported a $3.1 Billion Loss. Blame Sliding Demand, Strong Dollar and… Rivian
New York(CNN Business) In the days after its November IPO, electric truck maker Rivian was briefly one of the world's most valuable automakers despite not yet having reported a single sale.
Apple Is the Last FAANG Standing. How Its Earnings Could Move the Market.
Apple is the last FAANG standing — and its earnings report this coming week could go a long way toward determining if the stock market bounces back or slides even further.
