Ark Invest Expands Holdings in Key Tech Companies
Cathie Wood’s Ark Invest significantly increased its positions in Amazon (NASDAQ: AMZN), Kratos Defense & Security Solutions (NASDAQ: KTOS), and DoorDash (NASDAQ: DASH) last week. On Friday, Ark also participated in the IPO of X-Energy (NASDAQ: XE), a developer of advanced small modular nuclear reactors, which debuted with a 27% increase in share price, reaching a market cap of over $11 billion. This follows a 26% rise in Amazon’s stock over the past month, driven by strategic partnerships and strong quarterly gains from its cloud business.
Despite a slower trading week, with no trades on the middle days, Ark Invest remains bullish on these stocks. Kratos, despite being 19% lower year-to-date, reported a 19% revenue increase last year, the strongest in 13 years, fueled by growing military demand. Meanwhile, DoorDash’s struggles persist, with shares down 22% this year, despite a recent 38% revenue growth in the latest quarter.
