ARK Invest Adjusts Portfolio, Buys Pinterest Amid Market Downturn

NEW YORK, N.Y. — On November 5, ARK Invest made significant changes to its portfolio, purchasing shares of Pinterest after the company’s stock experienced a notable decline.

After a weak earnings outlook led to a steep drop in Pinterest’s stock, ARK funds invested approximately $13.44 million to acquire about 521,867 shares of the social media platform. This move highlights ARK’s strategy to capitalize on opportunities during market pullbacks.

In a further shift, the ARK Genomic Revolution ETF (ARKG) added 33,823 shares of Guardant Health, valued at about $3.21 million. Meanwhile, the ARK Innovation ETF (ARKK) sold 105,576 shares of Roku for roughly $11.16 million, indicating a cut back on certain positions.

Additionally, ARK funds reduced their holdings in Robinhood Markets, offloading 56,095 shares for about $7.99 million. The ARK Next Generation Fintech ETF (ARKW) also sold 11,989 shares of Reddit (RDDT), bringing in approximately $2.35 million.

Other notable transactions included the ARK Fintech Innovation ETF (ARKF) selling 60,808 shares of SoFi Technologies (SOFI) for roughly $1.83 million and ARKG trimming 87,072 shares of Adaptive Biotechnologies for about $1.53 million. The changes also affected positions in Incyte Corp., Ionis Pharmaceuticals (IONS), Teradyne, Rocket Lab (RBLB), and AeroVironment.

These trades suggest that ARK Invest is strategically balancing risk while making selective purchases, especially in response to Pinterest’s recent stock performance.