Cathie Wood’s ARK Invest ETFs (exchange-traded funds) snapped up 60,000 shares of newly-listed tech company Figma (FIG) on July 31. The company had a blockbuster Initial Public Offering (IPO) yesterday, with its shares rallying 250% to close at $115.50. The IPO was priced at $33 per share and is listed on the New York Stock Exchange.
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ARK Invest’s other notable purchases include 2.36 million shares of Prime Medicine (PRME), totaling roughly $9 million. Additionally, Wood bought 324,784 shares of PagerDuty (PD), valued at roughly $5 million. Wood also continued her bets on the semiconductor sector, buying AMD (AMD) stock worth $808,333 and Nvidia (NVDA) shares valued at $803,667.
On the sell side, Wood sold a considerable portion of CRSPR Therapeutics (CRSP), offloading 78,368 shares for a total of $4.52 million. ARK Invest also sold $2.1 million worth of shares in Adaptive Biotechnologies (ADPT) and $5.1 million worth of Roku (ROKU) among other smaller trades.
Wood is a strong believer in the potential of disruptive innovation and has continued to make million-dollar bets in the biotechnology and tech sectors throughout the month.
Figma is a software company offering cloud-based design tools. Through its IPO, Figma raised about $1.2 billion by selling 36.9 million shares. Of the capital raised, $400 million will go to the company, while the rest allows early backers and employees to take some gains off the table.
The ARK Next Generation Internet ETF (ARKW) purchased the 60,000 shares of Figma worth about $69.30 million based on FIG’s closing price of $115.50 on July 31.
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