On Tuesday, Cathie Wood-led Ark Invest made significant trades involving companies such as Alibaba Group Holding Ltd. (NYSE:BABA), Bullish Inc. (NYSE:BLSH), Circle Internet Group Inc. (NYSE:CRCL), Coinbase Global Inc. (NASDAQ:COIN), Robinhood Markets Inc. (NASDAQ:HOOD), and Amazon.com Inc. (NASDAQ:AMZN).
The Alibaba Trade
Ark Invest reduced its holdings in Alibaba on Tuesday, selling 20,509 shares through the ARK Innovation ETF (BATS:ARKK), 3,489 shares from ARK Next Generation Internet ETF (BATS:ARKW) and 1,537 shares via the ARK Blockchain & Fintech Innovation ETF (BATS:ARKF). The shares closed at $95.98, valuing the trade at approximately $2.5 million.
This move comes as Alibaba faces scrutiny following accusations from Anthropic. The company allegedly conducted a large-scale campaign to extract capabilities from Claude AI models, raising concerns about its practices. Ark sold $16.7 million worth of Alibaba stock last Thursday, and on Monday, the firm offloaded $885,568 worth of shares.
The Bullish Trade
Ark Invest increased its stake in the Peter Thiel-backed Bullish, purchasing 108,805 shares through the ARKK, 17,354 shares from ARKW and 7,644 shares via the ARKF. The stock closed at $23.43, making the total trade worth around $3.1 million.
Bullish reported first-quarter adjusted revenue of $92.8 million in mid-May, up 49% year over year, while adjusted EBITDA rose 166% to $35.1 million, with an adjusted EBITDA margin of 37.9%. The company reaffirmed its 2026 guidance and said its planned acquisition of Equiniti would strengthen its institutional tokenization infrastructure.
Following the results, Cantor Fitzgerald raised its price target on Bullish to $43 from $39 while maintaining an Overweight rating. Rosenblatt Securities lowered its price target to $42.50 from $45, citing weaker second-quarter trading volumes and uncertainty over the timing of broader tokenization adoption.
Notably, Ark has been purchasing shares of Bullish and other cryptocurrency-linked companies despite weakness in major digital assets like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). The firm had loaded up on $3.5 million worth of Bullish stock on Monday. It also picked up shares of Robinhood and Coinbase on the same day.
The Circle Trade
Ark Invest also expanded its position in Circle, acquiring 42,976 shares through the ARKK, 6,580 shares via the ARKW ETF, and 2,899 shares through the ARKF ETF.
The USD COIN issuer’s stock experienced a significant drop due to investor concerns over competition from Open USD. Circle closed at $62.63, with the trade valued at approximately $3.3 million.
The Coinbase Trade
Ark Invest added to its holdings in Coinbase, purchasing 12,916 shares through ARKK, 2,197 shares via ARKW, and 968 shares through ARKF.
Coinbase is nearing “everything exchange” status, expanding into equities, options, and AI markets. The stock closed at $146.19, making the total trade worth around $2.4 million.
Meanwhile, Leading cryptocurrencies retreated on Tuesday, with Bitcoin falling 2.52% to about $58,223 and Ethereum declining 1.54% to around $1,566, as nearly $250 million in crypto positions were liquidated, including $183 million in bullish bets. Bitcoin’s open interest rose 1.52%, indicating fresh short positions were being added despite the price decline.
The Robinhood Trade
Ark Invest increased its stake in Robinhood, acquiring 16,028 shares through the ARKK ETF. Robinhood recently launched its Trump Accounts app, allowing parents to activate investment accounts for children.
The stock closed at $100.28, valuing the trade at approximately $1.6 million.
The Amazon.com Trade
Ark Invest also purchased 6,796 shares of Amazon.com through the ARKK ETF. Amazon is on watch as Prime Day pull-forward meets a 20% AWS price increase, setting up a potential growth story for the second half of the year.
The shares closed at $238.34, with the trade valued at approximately $1.6 million. On Monday, Ark purchased $1.6 million worth of shares in the Jeff Bezos-founded e-commerce giant.
Other Key Trades
- Sold 789,905 shares of Absci Corp (ABSI) through the ARKG ETF.
- Sold 263,618 shares of 10X Genomics Inc. (TXG) through the ARKK ETF.
- Bought 202,095 shares of SoFi Technologies Inc. (SOFI) through the ARKK ETF.
- Sold 474,724 shares of Strata Critical Medical Inc (SRTA) through the ARKQ ETF.
Benzinga Edge Stock Rankings indicate Alibaba stock has a Momentum score in the 98th percentile and a Value score in the 3rd percentile.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo Courtesy: ChrisStock82 on Shutterstock.com
Recent Comments