Cathie Wood Sells $14.9M Worth Of This Jim Cramer Pick, Loads Up On $5.7M Worth Of Robinhood Stock

On Monday, Cathie Wood-led Ark Invest made significant trades, with the most notable being the sale of DraftKings Inc (NASDAQ:DKNG) shares. This move comes amidst a backdrop of recent discussions about DraftKings’ position in the sports betting world and its competition with Penn Entertainment.

The DraftKings Trade: Ark Invest sold a substantial 469,217 shares of DraftKings through ARK Innovation ETF (NYSE:ARKK). The transaction was valued at $14.9 million, based on the stock’s closing price of $31.79 on Monday. This decision is intriguing, especially considering Wood’s recent comments on the company.