Cathie Wood's ARK Added ~900K Shares of DraftKings (DKNG) Amid New Short Seller Report
- S&P 500 edges down on virus woes, slowing economy
- 'Becoming JP Morgan of the Future': Square (SQ) Dips on Deal to Acquire BNPL Afterpay For $29B in Stock, Benefits Outweigh High Price Says Analyst
- Oil falls over 3% on concerns over demand and OPEC supply boost
- ON Semiconductor (ON) Surges on Strong Q2 Results and Q3 Outlook
- Dollar wavers on dovish Fed tone, mixed economic outlook
Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.
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:
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Kredivo Announces Plans to Become Publicly Traded Company via Merger with VPC Impact Acquisition Holdings II (VPCB)
- XPAC Acquisition Corp. Announces Pricing of $200,000,000 Initial Public Offering
- Robinhood (HOOD) falls 3.5% early in second day of trading
Create E-mail Alert Related CategoriesETFs, Short Sales, Trader Talk
Related EntitiesHindenburg Research, ARK, SPAC
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!