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Cathie Wood's Ark bought Sea shares as gaming firm plunged

Bloomberg
Bloomberg2/15/2022 08:58 PM GMT+08  • 2 min read
Cathie Wood's Ark bought Sea shares as gaming firm plunged
Ark has been accumulating Sea shares since the start of this year and the frequency of its purchases increased this month
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Cathie Wood took advantage of a record slump in Sea, snapping up more of the gaming firm’s shares after India banned one of its products.

Wood’s thematic investing firm ARK Investment Management LLC bought more than 145,000 Sea shares on Monday, with the Ark Next Generation Internet ETF buying up the bulk, according to the firm’s daily trading updates compiled by Bloomberg.

Sea closed 18% lower in New York on Monday after India banned its marquee game Free Fire, extending a selloff in its shares to 65% from an Oct. 19 peak. It’s on pace to rebound Tuesday, rising as much as 4.5% in premarket trading.

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