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Cathie Wood Nearly Exits Netflix Stake, Also Sells $4M Shares In Rival Disney

Benzinga2022-01-28

Cathie Wood-led Ark Investment Management on Thursday nearly shed all of its exposure in Netflix Inc and also sold shares in rival entertainment giant Walt Disney Co.

The popular money managing firm sold 2,171 shares — estimated to be worth $839,525— in Netflix on the day shares of the company closed 7.5% higher at $386.7 a share. The stock is down 35.3% year-to-date.

With the latest sale, Ark Invest owns a little over 100 shares in the video streaming giant.

The St. Petersburg, Florida-based Ark Invest sold shares in the video streaming company via the Ark Space Exploration & Innovation ETF(BATS:ARKX). No other Ark Invest ETF currently owns shares in Netflix.

ARKX held 2,274 shares — worth $817,957 — in Netflix, prior to Thursday’s trade.

Netflix stock plummeted last week after fourth quarter results missed subscriber growth expectations slightly, and the company guided to much lower growth in the first quarter.

The money managing firm also sold 32,249 shares— estimated to be worth $4.36 million— in media and entertainment company Walt Disney.

Disney shares closed 1.36% higher at $135.4 a share on Thursday. The stock is down 13.6% so far this year.

Ark Invest has been selling shares in Walt Disney since November. Just last month, the firm lowered its exposure in Walt Disney by 25%.

Wood’s firm first bought shares in Walt Disney in May last year when analysts pointed to benefits from the reopening of theme parks after governments across the world doubled down on COVID-19 vaccination efforts.

The investment company owns Walt Disney shares via the Ark Next Generation Internet ETF and no other Ark ETF has an exposure to the stock.

Ark Invest held a total of 240,163 shares — worth about $32 million — in Walt Disney stock, ahead of Thursday’s trade.

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Comment30

  • LiliMe
    ·2022-01-29
    Did she make money? 
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  • Derrick7
    ·2022-01-28
    Cool [Miser] 
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  • June C
    ·2022-01-28
    Wow
    Reply
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    • Derrick7
      🎉
      2022-01-28
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    • Khoo12
      [Duh]
      2022-01-28
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  • Newbull
    ·2022-01-28
    must act opposite hers, when she buys we sell, when she sells we buy.....lol.
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  • TLC88
    ·2022-01-28
    Ok
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    • TLC88
      Ok
      2022-01-28
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  • Goldilock
    ·2022-01-28
    [LOL] [Cry] 
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  • D.Billions
    ·2022-01-28
    So this Cattie Woods buy high and sell low, brilliant investor, should give her big claps 👏👏👏.
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  • BlueDaisy
    ·2022-01-28
    Sell profitable companies to buy the unprofitable ones.... What kind of strategy is this? There are still people who equate her with Warren Buffet. Oh please!!!! 
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  • KeeBoonTong
    ·2022-01-28
    Lalala
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  • ac333
    ·2022-01-28
    This is a good sell; only question is - why is Netflix under Space Exploration ETF?
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  • MHh
    ·2022-01-28
    Did she just drive the nail in the coffin for Netflix?
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    • MHh
      [LOL]
      2022-01-28
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    • Gackky
      short them to six feet under[Happy]
      2022-01-28
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  • Jackal
    ·2022-01-28
    WHat I want to know is if she made money on Netflix or is it cut loss 
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  • Kel9670ong
    ·2022-01-28
    Risk taker that profit alot 
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  • opp.tids
    ·2022-01-28
    [Grin] [Grin] 
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  • kohhc
    ·2022-01-28
    She need the money to buy Tesla.
    Reply
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    • PaYC
      Agree, she's buying TSLA again
      2022-01-28
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    • ConanToh
      done
      2022-01-28
      Reply
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  • JediTrader
    ·2022-01-28
    stop sending ARKNews
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  • Soephiee
    ·2022-01-28
    Wow! 😮
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  • JediTrader
    ·2022-01-28
    she is doing everything wrong and she can afford to lost money but she is bringing all the wrong counter 
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  • JediTrader
    ·2022-01-28
    cathy wood is crazy
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  • cmg76
    ·2022-01-28
    Yes
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    • Bliang
      A
      2022-01-28
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