PLTR, CBRS, HOOD – Cathie Wood Buys Beaten-Down Tech Stocks, Sells Alibaba and ROKU

Cathie Wood's ARK Invest ETFs (exchange-traded funds) made fresh portfolio moves on Thursday, June 25, according to ARK's daily fund disclosures. The ace hedge fund manager added to several growth stocks, including Cerebras Systems (CBRS), Robinhood Markets (HOOD), Palantir Technologies (PLTR), Recursion Pharmaceuticals (RXRX), and Tempus AI (TEM).

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On the other hand, Wood reduced her position in Alibaba Group (BABA), selling 176,004 shares worth about $17.57 million. The sale comes after Alibaba stock fell to a 16-month low following claims by AI startup Anthropic that the company "illicitly" extracted capabilities from its Claude AI models. The stock has now lost about 33% this year.

Wood also continued to trim her stake in streaming platform Roku (ROKU) following news of its acquisition by Fox Corporation (FOXA). ARK sold 130,666 Roku shares worth roughly $17.76 million, extending a two-week selling streak as Wood shifted capital into higher-conviction AI and growth stocks.

Wood Buys the Dip in AI Stocks

AI stocks have come under pressure in recent days as investors worry about high valuations and the rising cost of AI. Even so, Wood continued to add to several AI and growth stocks. Here's a closer look at ARK's biggest purchases.

CBRS Stock – Cerebras makes AI chips and cloud systems that train and run large AI models. ARK bought 111,989 shares worth about $20.41 million, making it the fund's biggest purchase of the day. The latest buy came just one day after Wood purchased another 25,795 shares, showing she is doubling down on the AI chipmaker.

The stock has struggled despite a strong first-quarter report. Revenue jumped 94% year over year to $193.4 million, while cloud revenue surged 178%. However, shares fell after the company warned of margin pressure. Cerebras is ramping its $20 billion OpenAI contract to meet strong cloud demand.

PLTR Stock – Wood also bought 30,528 Palantir shares worth about $3.46 million. The purchase comes as the stock has fallen over 30% from its recent high and about 18% over the past five trading days. Investors have pulled back from high-priced AI stocks. That comes despite Palantir raising its full-year outlook and reporting strong demand for its Artificial Intelligence Platform (AIP).

HOOD Stock – ARK also bought 350,023 Robinhood shares worth about $3.40 million. The online trading platform has held up better than many AI and growth stocks during the recent pullback, making it one of the stronger names in Wood's portfolio.

Among the other notable trades, ARK bought 891,473 shares of Recursion Pharmaceuticals worth about $2.88 million and 49,594 shares of Tempus AI worth roughly $2.58 million.

Which Is the Best Stock, According to Analysts?

We used the TipRanks Stock Comparison Tool to compare these stocks.

Analysts are most bullish on Cerebras, Alibaba, and Robinhood, with all three carrying a Strong Buy consensus rating. Meanwhile, Recursion offers the highest 12-month upside potential at 120.96%, followed by Alibaba at 106.66%. Robinhood has the lowest implied upside at 9.13%.