Cathie Wood added to Ark Invest's positions in Netflix, Oklo and Intuitive Surgical on Wednesday, backing three stocks that have all been hit hard over the past year. The moves were disclosed after the close, when Ark Invest publishes all of Wood's ETF stock trades for the day.
The timing matters because Netflix fell to a two-year low on Wednesday after offering disappointing guidance. The company said it was targeting an 11.5% revenue increase for the final three months of the year, then cut its ad revenue projection for the year, even as it said it has more than 300 million members worldwide.
Wood, who is the co-founder, CEO and chief investment officer of Ark Invest, has built a following around buying into weakness, and Wednesday's purchases fit that pattern. The three names Ark added to were all down between 7% and 80% over the past year, which helps explain why they show up together in a daily trade blotter aimed at investors watching for contrarian bets.
Netflix is still the undisputed leader in premium digital video, but its latest guidance reset shows how quickly sentiment can change when growth expectations cool. Oklo tells a different story: the stock has surrendered 86% of its value since reaching its all-time high in October of last year, it only started to generate revenue this year, and it is not expected to top $10 million on the top line next year even as analysts see $312 million in revenue by 2030.
That gap is the friction point behind the trade. Ark did not say how many shares it bought of any of the three stocks, and the disclosure only shows that Wood chose to add rather than exit when the names were already under pressure. With Ark releasing its ETF stock moves at the end of every trading day, the next clue will not be a forecast but the next daily filing.
