Cathie Wood and Ark Invest loaded up stocks on Monday, while only shedding a handful of shares as the stock market rebound waved a cape in front of the bulls.
Wood made numerous buys Monday through her ARK Innovation ETF, ARK Autonomous Technology & Robotics ETF, ARK Next Generation Internet ETF and ARK Fintech Innovation ETF.
Her buys included 319,640 shares of Robinhood as well as smaller purchases of Advanced Micro Devices, Taiwan Semiconductor, nuclear reactor supplier BWX Technologies, Shopify and Airbnb among others, according to according to Wood's ETF daily trade disclosures.
In total, Wood and Ark Invest made 31 stock buys during Monday's stock market. The group only trimmed five positions.
IBD's ETF Market Strategy (current exposure level)
Conflict in the Middle East sent both the Nasdaq and the S&P 500 into pullbacks testing short-term support. Both indexes rebounded from support at their 21-day exponential moving averages on Monday, although only the S&P 500 bounced in rising trade volume. A second day of gains would provide some cushion above the 21-day level of support. Moves back above short-term highs established on June 11 would signal the market's rally had once again turned aggressive.
The ongoing stock market uptrend provides a bullish setting for raising exposure, but investors still need to watch for volatility. Investors should buy stocks with a 21-day average true range, or ATR, of up to 8%.
Following a couple of dismal years, Cathie Wood's ARK Innovation ETF is back on top and she can mostly thank four home runs. Four stocks in the ARK Innovation portfolio — recent IPO Circle Internet, Robinhood, Tempus AI and Palantir Technologies — are all up 80% or more this year.
Wood sold more 400,000 shares of Circle Internet stock on Monday for an estimated $109.55 million. Circle Internet is up 750% from the IPO price of $31 a share.
Investors can keep tabs on the IBD Leaderboard watchlist, the IBD 50 list of top growth stocks and IBD SwingTrader along with the IBD Sector Leaders list.
Please follow Kit Norton on X @KitNorton for more coverage.
YOU MAY ALSO LIKE:
Is Tesla Stock A Buy Or A Sell?
Get Full Access To IBD Stock Lists And Ratings
The Lithium Price Cycle Has Bottomed. What To Expect Next For These Stocks.
