Catherine D. Wood ,the star investor behind ARK Genomic Revolution ETF and ARK Innovation ETF is SPAC shopping again.
It was a bloodbath on Wall Street on Tuesday, but Cathie knows that you should buy when everything is in red, even if your portfolio is in red. The bigger the dip the better ROI can be expected.
Three SPAC related stocks, CM Life Sciences Inc (NASDAQ: CMLF), Opendoor Technologies Inc (NASDAQ: OPEN) and Butterfly Network (NYSE:BFLY) are added in one of Wood’s ETFs.
ARK Genomic Revolution ETF (ARKG) added 583,900 BFLY shares which equals to around $11M investment.
Ark Fintech Innovation ETF (ARKF) invested around $9M in Opendoor Technologies Inc (NASDAQ:OPEN) stock, which is $348,500 shares. On Thursday, December 17, 2020, Social Capital Hedosophia (NYSE:IPOB) shareholders have approved the proposed merger with Opendoor. Two days later OPEN started trading at NASDAQ.
Another SPAC related stock is that of CM Life Sciences Inc (NASDAQ:CMLF) which saw 444,200 shares going into the hands of ARK Genomic Revolution ETF.
On the other side Hims & Hers Health stock (NYSE:HIMS) is out of ARKGs portfolio as they sold 333,656 shares on Tuesday.