Why Is Cathie Wood Buying Netflix and Selling Roku?
ARK Invest's Cathie Wood is curling up on the couch to binge invest in Netflix (NASDAQ: NFLX) this week. She's also lightening up on her stake in fellow streaming wunderkind Roku (NASDAQ: ROKU).
For many investors, Netflix and Roku seem to be joined at the hip in the streaming video revolution. Netflix is the top dog among premium services with 207.6 million paying subscribers by the end of March. Roku is the streaming gateway of choice for 53.6 million homes across the country.
Why did Wood buy shares of Netflix on Tuesday? Why did she also sell shares of Roku on Tuesday? We don't have official responses. ARK Invest's transparency ends at its daily transaction reports. However, let's try to make sense of the two seemingly contradictory moves.
Source Fool.com
