Wood Snaps Up $14.3 Million of Meta Stock Amid Earnings Selloff

Cathie Wood's investment firm, Ark Invest, made significant trades involving Meta Platforms and Caterpillar on Thursday. In a notable move, Ark Invest purchased additional shares of Meta across multiple ETFs, collectively acquiring 26,509 shares at $539.03 each. This transaction valued around $14.3 million.

The decision to buy more Meta shares comes after the company's second-quarter earnings report, where it exceeded revenue expectations but fell short on adjusted earnings per share. Analysts remain optimistic about Meta's long-term potential, emphasizing the need for clarity on the revenue impact of its AI investments.

In contrast, Ark Invest reduced its holdings in Caterpillar by selling 1,136 shares through the ARKQ fund at $809.14 each, valuing around $919,183. This decision aligns with recent market developments, as Caterpillar's stock faced pressure following a downgrade by Baird analyst Mircea Dobre.