Cathie Wood's ARK Added ~900K Shares of DraftKings (DKNG) Amid New Short Seller Report

June 16, 2021 6:54 AM EDT

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Cathie Wood's ARK Investment bought another 870,299 shares of DraftKings (NASDAQ: DKNG) on Tuesday as shares sold off on a short report from Hindenburg Research, accusing the company of operating in the black market.

Shares of DKNG fell over 10% intra-day Tuesday following the short report before recovering to close down 4.2% as ARK and others bought the dip.

Hindenburg is fresh off a prescient short call on Lordstown Motors (RIDE), giving the short seller some more clout. Meanwhile, DKNG has been one of the most successful SPAC deals of all time amid the surge in online sports betting.

Below are ARK's trades from 06/15/21:

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