Cathie Wood’s ARK Invest returned to trading on Friday, April 17, 2026, after two days of no activity. The firm made a clear rotation: selling crypto-linked stocks and buying into large-cap tech and biotech.
ARK bought 26,161 shares of Netflix for around $2.5 million. Netflix had just reported Q1 earnings, posting revenue of $12.25 billion and profit of $5.28 billion — both ahead of Wall Street estimates.
Despite the strong numbers, Netflix shares fell nearly 10% to close at $97.31. The drop came after co-founder Reed Hastings announced he would not seek reelection to the board, and the company gave a softer revenue outlook for the rest of 2026.
ARK’s purchase suggests the firm views the sell-off as overdone. Netflix is pushing into live sports and advertising, expected to bring in around $3 billion in revenue this year.
On the selling side, ARK offloaded $1.21 million in Circle shares. Circle issues USDC, one of the largest stablecoins by market cap.
Circle is currently facing a class-action lawsuit connected to the Drift Protocol exploit. The suit alleges Circle failed to freeze related assets during the attack, adding legal risk to holding the stock.
ARK also sold $1.36 million worth of Bullish stock, even as Bullish shares rose about 5% that day on easing Middle East tensions.
Bitcoin was trading above $76,999 on Friday, briefly boosted by news that the Strait of Hormuz had reopened. Oil prices dropped around 10% on that news.
The relief was short-lived. By Saturday night, Iran announced the Strait was closed again due to a U.S. naval blockade. The reversal highlighted the unstable geopolitical backdrop.
ARK also bought 537,463 shares of Alamar Biosciences for approximately $11.96 million. It was Alamar’s first day of trading on Nasdaq.
Alamar surged about 33% on its debut, reaching a market cap of $1.53 billion. The purchase shows ARK’s continued appetite for early-stage biotech alongside its tech holdings.
The total crypto-linked sales came to $2.57 million across Circle and Bullish. Both positions were reduced despite the broader crypto market holding above key price levels.
The trades reflect a deliberate shift in ARK’s Friday portfolio — moving away from higher-risk crypto names and toward large-cap tech and biotech as global uncertainty remains elevated.
ARK’s purchase of Netflix shares and Alamar Biosciences on the same day marks one of the firm’s more active single-day rotations in recent weeks.
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