Cathie Wood’s Bold $11M Biotech Bet: Dumps Roku and DraftKings in Major Portfolio Shift

Cathie Wood just made her biggest biotech play of the year—and it's sending shockwaves through the market.

The ARK Invest CEO dropped over $11 million into emerging biotech names while simultaneously cutting exposure to consumer favorites Roku and DraftKings. Wood's signature move—backing disruptive innovation while pivoting from crowded trades—just got a serious capital commitment.

Timing the Market—Or Ignoring It?

While retail traders chase meme stocks and options fever, Wood's loading up on genomic editing and precision therapy companies. Her thesis? The next decade belongs to biotech breakthroughs—not streaming platforms or sports betting apps.

Wall Street's watching—and scratching their heads. One analyst quipped: 'She's either early or wrong. Again.' But if history's any guide, betting against Cathie's conviction plays has been a losing game more often than not.

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Wood Expands Biotech Exposure with CRISPR, Intellia Buys

The largest trade of the day came in CRISPR, with the ARK Innovation ETF (ARKK) purchasing 165,874 shares valued at roughly $8.98 million. This follows Monday’s buy of 188,879 shares for $10.26 million, underscoring Wood’s growing confidence in the gene-editing company’s long-term potential.

ARKK also boosted its stake in Intellia, adding 191,705 shares worth about $2.18 million. The company has seen repeated purchases in recent days. Just yesterday, Wood picked up 359,000 shares valued at $3.78 million, signaling a clear push into the gene-editing space.

ARK Trims Stakes in Roku and DraftKings

On the selling side, Wood has steadily reduced ARK’s position in Roku over the past several days. On Tuesday, the fund sold shares worth $6.61 millionlikely taking advantage of Roku’s recent rally. On Monday, the ARKK sold 141,194 shares of Roku, valued at approximately $13.30 million. Roku stock has gained 33% over the past three months.

ARK also cut its stake in DraftKings, unloading about $6.04 million worth of shares. The stock has climbed 34% in the past three months. The continued sales in Roku and DraftKings may signal a shift in strategy or a reaction to market trends.

On a smaller scale, the ARK Next Generation Internet ETF (ARKW) reduced positions in Coinbase (COIN) and Shopify (SHOP), with sales valued at approximately $597,312 and $588,680, respectively. These moves extend a recent pattern of trimming exposure to high-growth tech names.

Let’s take a brief look at how all these stocks perform on TipRanks’ Stock Comparison Tool: