Benzinga · Jun 19, 2021
Cathie Wood Buys Another $6.3M In Alibaba Rival JD And Sells $17M In Netflix
Cathie Wood-led Ark Investment Management on Friday snapped up 87,900 shares, worth about $6.29 million, in JD.com Inc (NASDAQ: JD) on the dip. Shares of the company, a key rival to Alibaba Group Holding (NYSE: BABA) in the e-commerce space in China, closed 2.56% lower at $71.62 on Friday. The New York-based investment firm has been piling up shares in Alibaba rivals, some of which now account for a better part of its holdings compared to the Jack Ma-led company. Wood’s firm deployed Ark Fintech Innovation ETF (NYSE: ARKF) to buy JD.com shares on Friday, lifting ARKF’s holding to 1.8 million, worth about $132.82 million. JD.com ranks seventh among a portfolio of 43 stocks in ARF. On ...
