Cathie Wood and her ARK Invest firm remained largely quiet on Wednesday ahead of the launch of sweeping new global tariffs announced by President Donald Trump after the market close. The firm on Thursday doubled down on its purchases, but sold off two stocks.
ARK's daily trade update showed Wood and her funds only purchased two stocks on Wednesday — Robinhood and GitLab. The firm added 6,875 shares of Robinhood stock to its flagship ARK Innovation ETF, worth $293,425 based on the $42.68 closing price.
Wood purchased 2,689 shares of GitLab, with 614 shares added to the ARK Next Generation Internet ETF. The GitLab buys were worth almost $129,960, based on the $48.33 closing price.
The ARK Innovation ETF off-loaded 19,903 shares of Prime Medicine, worth $35,626 based on the $1.79 closing price.
The ARK Genomic Revolution ETF on Wednesday sold 73,541 shares of Repare Therapeutics, worth $78,689. RPTX stock closed at $1.07 on Wednesday.
ARK followed that up on Thursday by buying more Robinhood and GitLab. Wood on Thursday purchased 36,250 shares of HOOD stock for the ARK Innovation ETF, worth nearly $1.39 million based on the $38.26 closing price.
ARK added another 27,431 shares of GitLab, which were allocated to the ARKK ETF and the ARK Next Generation ETF. Thursday's GTLB purchases were worth $1.17 million, based on the $42.53 closing price.
Wood on Thursday sold another 119,913 shares of Repare Therapeutics, which generated around $117,509. The firm sold 343,318 shares of UiPath worth $3.52 million based on the $10.26 closing price.
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Recession Warning
Wood in late March had warned the economy could be headed for a recession, even before President Trump's "Liberation Day" announcement.
"We think we've been in a rolling recession and that we are actually going to see some negative quarters here," Wood told Bloomberg. She said at the time that the velocity of money was "collapsing," meaning less spending and investment. Job security concerns were prompting Americans to save, rather than spend, Wood added.
But Wood believes that opens the door for tax cuts and more potential rate cuts from the Federal Reserve, particularly in the second half of the year.
Stock Action
Robinhood stock fell another 10.8% Friday. HOOD stock tumbled 10.4% Thursday, erasing its 1.2% gain from Wednesday. Shares are down more than 7% this year.
GitLab shares declined 3.4% Friday, adding to its 12% fall on Thursday. GTLB stock climbed 1.4% Wednesday. GitLab has lost about 27% since Dec. 31.
Prime Medicine stock fell 10% Thursday, followed by a 12.4% drop Friday, sending its year-to-date loss to 52%. Shares of Canada-based Repare declined almost 2% Thursday, with a 4.8% retreat Friday. Shares are trading down about 24% since the start of the year.
UiPath slid 2.1% Friday, after declining 5.2% Thursday. PATH stock is down more than 21% in 2025.
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