Cathie Wood's ARK Invest Buys Meta Shares Amid Surge While Selling Alphabet
On September 10, Cathie Wood’s ARK Invest purchased $27.9 million in Meta (NASDAQ:META) shares while selling an equivalent amount of Alphabet Inc. (NASDAQ:GOOG). The move follows a sharp rebound for META—up over 14% in three months—and near-term weakness for GOOG, which has fallen nearly 8% month-to-date despite strong long-term gains. Meta’s recent earnings showed revenue growth but missed EPS estimates due to surging costs and collapsing free cash flow. Alphabet reported stronger-than-expected results with a record Google Cloud performance growing at an 82% year-over-year rate, yet its stock has underperformed recently in the short term despite long-term gains. The transaction raises questions about whether Wood is capitalizing on momentum or potentially buying high and selling low.
Topics: Alphabet (GOOG) ARKK Cathie Wood Meta (META) stock trading