ARK Investment Management purchased META shares worth a total of $27.9 million and sold GOOGL shares for a total value of $27.8 million.
- The asset management firm made the transactions across two of its exchange-traded funds, ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW).
- Wood’s firm purchased 38,304 shares of META through its ARKK ETF and bought another 4,787 shares of the Facebook parent company via its ARKW ETF.
- ARK Invest sold 72,803 GOOGL shares through its ARKK ETF and also offloaded an additional 11,589 GOOGL shares via its ARKW ETF.
Cathie Wood-led ARK Investment Management made two contrarian technology stock bets on Wednesday – buying shares of Meta Platforms Inc. (META) and offloading Alphabet Inc. (GOOGL) on the same day.
The asset management firm made the transactions across two of its exchange-traded funds, ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW).
How Much Of META, GOOG Stocks Did ARK Trade?
Wood’s firm purchased 38,304 shares of META through its ARKK ETF worth about $24.8 million, and bought another 4,787 shares of the Facebook parent company via its ARKW ETF, worth $3.1 million, according to the company’s website.
Meanwhile, ARK Invest sold 72,803 GOOGL shares worth $24 million through its ARKK ETF and also offloaded an additional 11,589 GOOGL shares estimated at a market value of $3.8 million via its ARKW ETF.
In total, the fund purchased META shares worth a total of $27.9 million and sold GOOGL shares for a total value of $27.8 million.
META Stock Jumps To Two-Month High
Wood’s transactions coincided with META stock surging to its best in two months amid its Meta Muse AI release and acquisition of a Swedish AI firm Stilla.ai, to support its business AI agents.
Earlier this week, Meta officially launched Muse, an autonomous personal AI assistant powered by the Muse Spark 1.3 foundation model and designed by Meta Superintelligence Labs (MSL).
Shay Boloor, Chief Market Strategist at Futurum Equities, noted that Muse may be Meta’s most important consumer product since Instagram and WhatsApp. “Muse gives Meta a path to move from monetizing attention to monetizing action by owning more of the journey from discovery to decision to transaction,” he said in a post on X.
Meanwhile, the acquisition of Stilla.ai will result in its team and core technology being integrated directly into Meta to bolster the growth of the Meta Business Agent initiative and boost automated commerce and transaction handling across its WhatsApp, Instagram, and Messenger apps.
The announcements come as investor concerns about Meta’s aggressive capital expenditure persist, with guidance raised to a range of $125 billion to $145 billion for 2026.
Retail Stance On META, GOOGL Stocks
On Stocktwits, retail sentiment around META stock was ‘bearish’ at the time of writing. The stock has lost about 13% of its value in the last one year.
One user said, “$META using Muse. It’s a goal/ productivity assistant.Interesting concept. Not sure if it will take off.”
Meanwhile, retail sentiment on GOOGL stock improved from ‘extremely bearish’ to ‘bearish’ territory over 24 hours. The stock has surged more than 38% in the last one year.
One bullish user said, “$GOOGL When it breaks out it will go above $400 so fast. Then people will be like “omg why didn’t I buy Google it was so obvious?!?!”. Happens every time it dips for its entire history.”
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