Cathie Wood, founder of Ark Invest, has restructured her investment portfolio by selling $2.57 million in cryptocurrency-related stocks. This includes offloading 11,465 shares of Circle Internet Group, valued at approximately $1.21 million, and 31,417 shares of Bullish, worth about $1.36 million. Circle is currently under pressure from class-action litigation related to the Drift Protocol attack, while Bullish's stock rose 5% amid a market recovery.
Wood redirected her investments towards traditional technology and biotechnology sectors, acquiring 26,161 shares of Netflix for $2.54 million and 537,463 shares of Alamar Biosciences for $11.96 million. Despite Netflix's first-quarter revenue of $12.25 billion and profit of $5.28 billion, its stock fell nearly 10% due to modest results. Alamar Biosciences, however, saw a 33% surge on its Nasdaq debut, reaching a market cap of $1.53 billion.
Cathie Wood Sells $2.57M in Crypto Stocks, Invests in Netflix and Biotech
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