2021 Year-End Moves

Cathie Wood’s Ark Investment Management ($ARKK@US) ended 2021 by making a few final moves that could help investors prepare for 2022. Among the most popular money managers on the market, Wood bought over 5 hundred thousand shares of online broker Robinhood ($HOOD@US) through the Ark Innovation ETF ($ARKF@US) and Next Generation Internet ETF ($ARKW@US). This stock purchase comes on the heels of Robinhood acquiring Cove Markets at the end of 2021. Robinhood closed on Friday at $17.76 per share. This purchase further increases Ark’s exposure in the online trading market while also gaining crypto exposure as Robinhood prepares to release crypto wallets to its customers. Additionally, Wood’s Florida-based investment firm purchased nearly 39 thousand shares of DraftKings ($DKNG@US), increasing its exposure in the sports betting markets, including 19 million shares it already held in DraftKings, a stock which closed Friday at $27.47 per share.