Home / Business and Economy / Cathie Wood Sells HOOD & ROKU, Buys SpaceX
Cathie Wood Sells HOOD & ROKU, Buys SpaceX
20 Jun
Summary
- ARK Invest sold Robinhood shares after workforce cuts announcement.
- Roku shares were trimmed following a $22 billion acquisition agreement.
- ARK Invest initiated a significant post-IPO position in SpaceX.
On June 18, 2026, ARK Invest, led by Cathie Wood, implemented a notable shift in its portfolio strategy. The investment firm strategically sold shares of Robinhood and Roku, stocks that had recently seen significant gains. The decision to divest from Robinhood came shortly after the company announced approximately 10% of its workforce would be cut. This cost-saving measure had positively impacted Robinhood's stock performance, creating an opportune moment for ARK Invest to realize profits.
Similarly, ARK Invest trimmed its holdings in Roku after Fox agreed to acquire the company for $22 billion. This acquisition offered Roku shareholders a defined exit price, diminishing the potential for further upside and prompting ARK to convert the position into cash. These sales occurred as ARK Invest simultaneously built a considerable stake in SpaceX, acquiring nearly 3.3 million shares shortly after its initial public offering, valued at approximately $531 million on its first trading day.
