On Tuesday, Cathie Wood's Ark Invest executed notable trades, including significant activity involving Tempus AI Inc. (NASDAQ:TEM), Block Inc. (NYSE:XYZ), and DraftKings Inc. (NASDAQ:DKNG). These trades come amid a backdrop of market volatility and strategic repositioning by Ark Invest.

The Tempus AI Trade

Ark Invest's ARK Innovation ETF (NYSE:ARKK) made a substantial purchase of 94,251 shares of Tempus AI, valued at approximately $4.29 million, based on the closing price of $45.58. Tempus AI recently reported its fourth-quarter earnings, revealing a revenue miss but an earnings-per-share beat. Despite the revenue shortfall, the company provided strong guidance, which may have influenced Ark's decision to increase its stake.

In a recent market environment characterized by a tech sector downturn, Ark has been actively acquiring shares in companies like Tempus AI. Amid Monday's tech stock meltdown, Wood had acquired Tempus AI stock worth $13.23 million.

The Block Trade

On the same day, Ark Invest's ARKK ETF sold 203,659 shares of the Bitcoin (CRYPTO: BTC)-focused company Block — amounting to approximately $11.26 million at the closing price of $55.29. Block's recent earnings report showed a revenue miss.

Despite the revenue miss, Block's CEO, Jack Dorsey, remains optimistic about achieving a "Rule of 40" run rate by the end of the year.

The DraftKings Trade

Ark Invest also reduced its holdings in DraftKings by selling 23,195 shares from the ARK Next Generation Internet ETF (NYSE:ARKW), valued at approximately $896,718, based on the closing price of $38.66. DraftKings recently reported its fourth-quarter earnings, which included a revenue miss during a challenging period for the sports betting industry.

Despite the revenue miss, analysts have highlighted DraftKings' resilience and potential for future growth.

Other Key Trades:

• Sold shares of Roku (ROKU) from the ARKF, ARKQ, and ARKK.
• Bought shares of Ibotta Inc. (IBTA) for the ARKF and ARKW.
• Sold shares of Roblox Corp. (RBLX) from the ARKF, ARKK, and ARKW ETFs.
• Sold shares of CareDx Inc. (CDNA) from the ARKG ETF.
• Bought 6,495 shares of CRISPR Therapeutics AG (NASDAQ:CRSP) for the ARKK and ARKG ETFs.

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal