Innovation investor Cathie Wood is purchasing shares of several notable stocks ahead of their imminent quarterly earnings reports. The founder and CEO of Ark Invest purchased shares of Robinhood , Twitter , Spotify and Amazon on Monday. Those companies all report earnings this week. Wood bought 210,569 shares of stock trading app Robinhood in the Ark Fintech Innovation ETF on Monday, a position worth roughly $8.2 million based on the stock's closing price of $39.01 that day. The brokerage reports its third-quarter earnings after the bell Tuesday. Wall Street is expecting a slowdown in trading — especially in the crypto space — in the third quarter, which should punish Robinhood's top line. However, some analysts already see crypto trading picking up in the fourth quarter. Ark's flagship fund, the Ark Innovation ETF , purchased 103,155 shares of social media company Twitter ahead of its report after the bell on Tuesday. The position is worth about $6.4 million, based on the stock's closing price of $62.11 on Monday. Investors will be anxious to see how Twitter's advertising business has been affected by the rollout of Apple's iOS 14.5. Last week, Snap disappointing third-quarter revenue , which was hampered by Apple's iPhone privacy changes. Wood also scooped up 22,021 shares of Spotify in Ark Next Generation Internet ETF on Monday, a position worth roughly $5.7 million, based on the music streaming platform's closing price of $257.89. Morgan Stanley reiterated its overweight rating on Spotify on Tuesday ahead of the report. The Wall Street firm said after underperformance in 2021, it sees Spotify's gross margins expanding . The hot-handed investor also purchased 2,085 shares of Amazon — which reports earnings Thursday after the bell. Wood's position in ARK Fintech Innovation ETF is worth about $6.9 million, based on Amazon's closing price of $3,320.37. Analysts are expecting 28% year-over-year downside in EPS for the e-commerce giant this quarter. Amazon faces tough pandemic comps and consumer have resumed shopping in stores.
Catherine Wood, chief executive officer of Ark Investment Management.
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Innovation investor Cathie Wood is purchasing shares of several notable stocks ahead of their imminent quarterly earnings reports.