Cathie Wood Buys Roblox, Palantir Dips — Ark Invest Seizes Buying Opportunities Following Earnings Reports

Benzinga2023-08-10

On Wednesday, Cathie Wood-led Ark Invest made a significant move by purchasing shares of Roblox Corp following its recent quarterly earnings report. The decision comes after Roblox’s stock took a hit ...

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The decision comes after Roblox’s stock took a hit ...</p>\n\n<a href=\"https://www.benzinga.com/markets/equities/23/08/33691307/cathie-wood-buys-roblox-palantir-dips-ark-invest-seizes-buying-opportunities-following-earnings-\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TWOU","symbol_name":"2U Inc","start_time":0,"source_url":"https://www.benzinga.com/markets/equities/23/08/33691307/cathie-wood-buys-roblox-palantir-dips-ark-invest-seizes-buying-opportunities-following-earnings-","article_id":"1152499531","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1152499531","pubTimestamp":1691660981,"sourceInfo":{"source_id":"lsy1606299360108","name":"Benzinga"},"weMediaInfo":null,"summary":"On Wednesday, Cathie Wood-led Ark Invest made a significant move by purchasing shares of Roblox Corp following its recent quarterly earnings report. 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The decision comes after Roblox’s stock took a hit post its second-quarter earnings announcement.The Roblox TradeArk purchased a total of 865,287 worth $25.5 million at the closing price of $29.46 through its ARK Innovation ETF, ARK Next Generation Internet ETF and Ark Fintech Innovation ETF.Roblox reported a 22% year-on-year growth in second-quarter FY23 Bookings, amounting to $780.7 million. However, the revenue, which grew by 15% Y/Y to $680.8 million, missed the consensus by over $100 million. The company’s EPS loss of $(0.46) also missed the consensus by a cent.Despite the Average Daily Active Users (DAUs) seeing a 25% Y/Y increase, standing at 65.5 million, and Hours Engaged rising by 24% Y/Y to 14 billion, the Average Bookings per DAU (ABPDAU) dropped by 3% Y/Y. This slowing growth has investors concerned, leading to a 20.503% drop in RBLX shares, trading at $30.01.Furthermore, Roblox recently announced its expansion to Meta Platforms‘ Quest virtual reality (VR) headsets. This move aims to bring the online game to a growing community of VR enthusiasts. The game will soon be available in beta version on Quest 2 and Quest Pro, and will also be compatible with the upcoming Quest 3. With a daily login of over 66 million users across various platforms, Roblox’s expansion to VR is expected to make the virtual realm even more social.Other Key Trades:Palantir Technologies Inc – Bought 14,275 shares through the Fintech Innovation fund. 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