Cathie Wood and her investment firm Ark Invest made a noteworthy move on Wednesday, buying the dip in Netflix (NASDAQ:NFLX) shares following the company’s disappointing third-quarter earnings report. Prior to this trade, Ark and its suite of exchange traded funds held no position in the streaming giant.
The purchase came through the Ark Next Generation Internet ETF (BATS:ARKW), one of Wood’s actively managed funds focused on disruptive innovation and digital platforms. According to trade disclosures, ARKW acquired 15,756 shares of Netflix during Wednesday’s session as the stock tumbled 10% on the day.
Following the buy, Netflix now ranks as ARKW’s 40th-largest holding among 49 total positions, accounting for a 0.77% allocation. The purchase gives the ETF roughly a $17.5 million stake in the company, reflecting a measured but notable entry point into the stock.
While Wood’s Netflix position remains small compared to some of ARKW’s top holdings, the move signals confidence in the long-term potential of the streaming sector despite near-term volatility.
By contrast, other ETFs maintain far larger allocations to Netflix, underscoring how Ark’s new position marks more of a strategic dip-buying play than a high-conviction bet.
Year-to-date price action:
- Ark Next Generation Internet ETF: +56.1%.
- Netflix: +25.2%.