Cathie Wood, ARK Invest Bought These 2 Stocks As Tariffs Loomed

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Cathie Wood, ARK Invest Bought These 2 Stocks As Tariffs Loomed.

investing ideas :: 2025-04-04 :: source - ibd

By HARRISON MILLER

Cathie Wood, CEO of Ark Invest, speaks during an interview on CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, U.S. REUTERS/Brendan McDermid/File Photo

ARK's daily trade update showed Wood and her funds only purchased two stocks on Wednesday — Robinhood (HOOD) and GitLab (GTLB). The firm added 6,875 shares of Robinhood stock to its flagship ARK Innovation ETF (ARKK), 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 (ARKW). 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 (PRME), worth $35,626 based on the $1.79 closing price.

The ARK Genomic Revolution ETF (ARKG) on Wednesday sold 73,541 shares of Repare Therapeutics (RPTX), worth $78,689. RPTX stock closed at $1.07 on Wednesday.

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 tumbled 10.4% Thursday, erasing its 1.2% gain from Wednesday. Shares are up 2.7% this year.

GitLab shares retreated 12% Thursday. GTLB stock climbed 1.4% Wednesday. GitLab has lost about 25% since Dec. 31.

Prime Medicine stock fell 10% Thursday, sending its year-to-date loss to 45%. Shares of Canada-based Repare declined almost 2%, trading down about 20% since the start of the year.

You can follow Harrison Miller for more stock news and updates on X/Twitter @IBD_Harrison

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