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Cathie Wood-led Ark Investment Management snapped up over 3 million shares, worth about $48.53 million, in Skillz Inc (NYSE:SKLZ) on Wednesday.
SKLZ shares closed 9% lower at $15.48 on Wednesday and were down 1% in after-hours trading in the aftermath of the company reporting a wider quarterly loss alongside a surge in revenue.
Ark owned about 12.9 million shares in Skillz divided between the ARK Innovation ETF (NYSE:ARKK) and Ark Next Generation Internet ETF (NYSE:ARKW) ahead of Wednesday's trade, worth about $263.98 million.
The New York-based hedge fund had last week come out in support of the company amid short-seller allegations related to its revenue recognition practices and the NFL partnership.
See Also: Cathie Wood Loaded Up Further On Skillz On Earnings Day
The investment firm also bought 325,805 shares, worth about $51.15 million, in Teladoc Health Inc (NYSE:TDOC), a telemedicine company.
The hedge fund bought the shares of the New York-based company via three of its funds — the Ark Genomic Revolution ETF (BATS:ARKG), ARKK and ARKW.
Teladoc is ARKG’s largest investment among a portfolio of 60 stocks and represented a weight of 7.07% ahead of Wednesday’s trade. Teladoc is also ARKK's second-largest investment just below Tesla Inc (NASDAQ:TSLA).
Wood’s firm also leveraged the dip in exercise bike maker Peloton Interactive Inc (NASDAQ:PTON) to snap up 140,904 shares, worth about $11.6 million.
The shares of the company closed 15% lower at $82.62 on Wednesday after the company issued a recall of its Tread and Tread+ treadmills. The stock was further down 1.72% in extended hours.
See Also: Peloton Plummets On Treadmill Recall: How Does The Stock Chart Look?
Other Ark Buys On Wednesday:
Exact Sciences (NASDAQ:EXAS)
Ionis Pharmaceuticals Inc (NASDAQ:IONS)
908 Devices (NASDAQ:MASS)
Invitae Corp (NYSE:NVTA)
Surface Oncology Corp (NASDAQ:SURF)
Repare Therapeutics Inc (NASDAQ:RPTX)
UiPath Inc (NYSE:PATH)
Twilio Inc (NYSE:TWLO)
Draftkings Inc (NASDAQ:DKNG)
Experience Investment Corp (NASDAQ:EXPC)
JD.com (NASDAQ:JD)
Vuzix Corp (NASDAQ:VUZI)
Other Ark Sells On Wednesday:
Takeda Pharmaceutical Co Ltd (NYSE:TAK)
Roche Holding Ag (OTC:RHHBY)
Syros Pharmaceuticals Inc (NASDAQ:SYRS)
Regeneron Pharmaceuticals Inc (NASDAQ:REGN)
Pluristem Therapeutics (NASDAQ:PSTI)
Phreesia (NYSE:PHR)
LendingTree Inc (NASDAQ:TREE)
Synopsys Inc (NASDAQ:SNPS)
Pure Storage Inc (NYSE:PSTG)
Baidu Inc (NASDAQ:BIDU)
Teledyne Technologies Inc (NYSE:TDY)
Adyen NV (OTC:ADYEY)
Trade Desk Inc (NASDAQ:TTD)
Posted In: ADYEY ARKG ARKK ARKW BIDU DKNG EXAS EXPC IONS JD MASS NVTA PATH PHR PSTG PSTI PTON REGN RHHBY RPTX
