Cathie Wood Sells $26.65M Robinhood (HOOD), Buys $46.18M Eli Lilly

AI Summary

On June 18, Cathie Wood’s ARK Invest sold 275,572 shares of Robinhood (HOOD) worth $26.65 million and 239,267 shares of Roku (ROKU) valued at $33.01 million. The sales followed significant stock rallies driven by profit-taking after Robinhood's announcement of a 10% workforce cut and Roku's acquisition deal valued at $22 billion. Wood reinvested approximately $46.18 million into Eli Lilly (LLY) by acquiring 41,138 shares, indicating a shift towards new growth opportunities. This strategic repositioning highlights Wood's focus on potential upside stories rather than established rallies.