Cathie Wood Increases Investment in Biotech While Reducing Holdings in Tech Stocks Like Shopify and Palantir (PLTR)
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 29 2025
0mins
Should l Buy DKNG?
Source: TipRanks
ARK Invest's Portfolio Moves: On October 28, 2025, ARK Invest revealed significant trades, including major purchases of DraftKings, Intellia Therapeutics, and 10x Genomics, indicating a strong belief in biotech and growth stocks.
DraftKings Acquisition: ARK bought 499,483 shares of DraftKings for $16.46 million, reflecting confidence in the sports betting sector as more states legalize online wagering.
Intellia Therapeutics Investment: The firm acquired 479,411 shares of Intellia Therapeutics valued at $7.09 million, signaling a bullish outlook on the gene-editing company.
Technology Sector Divestments: ARK sold shares in Shopify, Palantir, and other tech firms, adjusting its portfolio in response to market volatility, with total sales ranging from $896,000 to $10.69 million.
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Analyst Views on DKNG
Wall Street analysts forecast DKNG stock price to rise
29 Analyst Rating
23 Buy
6 Hold
0 Sell
Strong Buy
Current: 25.220
Low
30.00
Averages
42.69
High
53.00
Current: 25.220
Low
30.00
Averages
42.69
High
53.00
About DKNG
DraftKings Inc. is a digital sports entertainment and gaming company. It provides users with online and retail sports betting (together, Sportsbook), online casino (iGaming) and daily fantasy sports product offerings, as well as digital lottery courier, media, and other product offerings. Sportsbook is live with mobile and/or retail sports betting operations pursuant to regulations in 28 states, Washington, D.C., and in Ontario, Canada. It operates iGaming pursuant to regulations in five states and in Ontario, Canada under its DraftKings brand and pursuant to regulations in four states under its Golden Nugget Online Gaming brand. It owns Jackpocket, a digital lottery courier app in the United States. It is both an official daily fantasy and sports betting partner of the NFL, NHL, PGA TOUR, WNBA and UFC, as well as an official daily fantasy partner of NASCAR, an official sports betting partner of the NBA. It also owns and operates DraftKings Network, a multi-platform content ecosystem.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Bet365 Celebrates 25th Anniversary, Expands U.S. Market Presence
- Market Share Growth: Since launching on December 1, 2025, Bet365 has captured a 7.8% market share in Missouri, demonstrating effective strategic expansion despite trailing behind DraftKings and FanDuel, indicating a solid growth trajectory.
- Steady Expansion Strategy: Unlike its competitors, Bet365 has opted for a gradual state-by-state approach to enter the U.S. market, ensuring a strong foothold in emerging sports betting markets and enhancing its competitive edge in the industry.
- User Experience Advantage: Bet365 attracts users with its robust product experience and aggressive pricing strategies, particularly excelling in parlay wagers compared to competitors, showcasing a deep understanding of user preferences.
- Future Development Plans: The company aims to continue expanding into more regulated states and deepen penetration in existing markets, while also considering partial private equity deals or an IPO in the U.S. to strengthen its capital base.
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- Rapid Fire Review: The rapid-fire segment at the end of the video covered stocks including CoreWeave, Texas Roadhouse, Cloudflare, DraftKings, and Airbnb, highlighting investor interest in diverse investment opportunities.
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DraftKings Q1 2026 Earnings Exceed Expectations
- Strong Financial Performance: DraftKings reported a 17% year-over-year revenue increase in Q1, surpassing $1.6 billion, while adjusted EBITDA rose 64% to $168 million, indicating ongoing improvements in profitability despite significant investments in Predictions.
- Strategic Focus on Predictions: The company plans to invest $200 million to $300 million in its Predictions business in 2026, and with the recent launch of the Predictions feature, customer acquisition costs dropped by over 80% in April, which is expected to enhance market competitiveness and drive revenue growth.
- Stable Future Outlook: Management reaffirmed its fiscal year 2026 revenue guidance of $6.5 billion to $6.9 billion and adjusted EBITDA expectations of $700 million to $900 million, reflecting confidence in future performance, particularly with the upcoming World Cup.
- Market Dynamics Shift: Although early data suggests that Predictions customers are experiencing losses faster than Sportsbook customers, management emphasized the importance of trust and consumer protections, indicating a cautious approach to expansion and investment to ensure the sustainability of core business.
See More
Akamai Technologies Shares Surge 27% on $1.8 Billion Commitment
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See More
DraftKings Exceeds Q1 Expectations, Highlights Super App Potential
- Strong Earnings Report: DraftKings reported a non-GAAP EPS of $0.20 for Q1, beating expectations by $0.03, which reflects ongoing improvements in profitability and boosts investor confidence.
- Revenue Growth: The company achieved Q1 revenue of $1.65 billion, exceeding market expectations by $20 million, indicating robust performance in the online gambling market and an increase in market share.
- Super App Potential: DraftKings highlighted its potential as a super app, planning to integrate more features to enhance user experience, thereby attracting more users and increasing customer loyalty, which could further drive revenue growth.
- Optimistic Market Outlook: With the online gambling market continuously expanding, DraftKings' strong earnings and future development plans position it favorably in a competitive landscape, suggesting potential for long-term growth.
See More
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- Market Share Growth: Since launching on December 1, 2025, Bet365 has captured a 7.8% market share in Missouri, demonstrating effective strategic expansion despite trailing behind DraftKings and FanDuel, indicating a solid growth trajectory.
- Steady Expansion Strategy: Unlike its competitors, Bet365 has opted for a gradual state-by-state approach to enter the U.S. market, ensuring a strong foothold in emerging sports betting markets and enhancing its competitive edge in the industry.
- User Experience Advantage: Bet365 attracts users with its robust product experience and aggressive pricing strategies, particularly excelling in parlay wagers compared to competitors, showcasing a deep understanding of user preferences.
- Future Development Plans: The company aims to continue expanding into more regulated states and deepen penetration in existing markets, while also considering partial private equity deals or an IPO in the U.S. to strengthen its capital base.
See More
Fluence Energy Shares Soar Nearly 30% After Upgrades
- Fluence Energy Surge: Fluence Energy's stock soared nearly 30% after its fiscal second-quarter EBITDA exceeded Wall Street estimates, following a prior session surge of about 40%, indicating strong market confidence in its growth potential and attracting more investor interest.
- Corpay Raises Guidance: Corpay shares jumped 10% after the company raised its full-year earnings guidance to a range of $26.30 to $27.10 per share, surpassing analyst expectations of $26.05, reflecting robust performance in the corporate payments sector and potentially increasing market share.
- Akamai Technologies Rises: Akamai's stock surged 20% after securing an $1.8 billion commitment from a leading U.S. frontier model provider for its Cloud Infrastructure Services, indicating strong demand in the market, while also reporting a first-quarter adjusted earnings beat that bolstered investor confidence.
- Upwork Restructuring Impact: Upwork's shares tumbled 21% following its announcement of a 24% workforce reduction to ensure profitability, despite slightly lower-than-expected first-quarter earnings and revenue, which may affect its future competitive position and investor sentiment.
See More
Job Report Exceeds Expectations, Market Rallies
- Strong Job Market: The U.S. Labor Department reported a 115,000 increase in nonfarm payrolls for April, surpassing economists' expectations of 55,000, while the unemployment rate held steady at 4.3%, indicating labor market stability that may weaken the case for near-term Fed rate cuts.
- Nike Downgrade: Wells Fargo downgraded Nike due to concerns that the company's turnaround could take longer than investors hoped, with shares down approximately 30% this year, making it the second-worst performer in the Dow, reflecting the increasingly challenging retail environment.
- Qnity Electronics Performance: Qnity Electronics is set to report earnings on Tuesday, following an impressive beat-and-raise quarter from its former parent, DuPont; Qnity shares have surged about 80% this year, with Deutsche Bank raising its price target from $140 to $170, driven by strong semiconductor demand.
- Rapid Fire Review: The rapid-fire segment at the end of the video covered stocks including CoreWeave, Texas Roadhouse, Cloudflare, DraftKings, and Airbnb, highlighting investor interest in diverse investment opportunities.
See More
DraftKings Q1 2026 Earnings Exceed Expectations
- Strong Financial Performance: DraftKings reported a 17% year-over-year revenue increase in Q1, surpassing $1.6 billion, while adjusted EBITDA rose 64% to $168 million, indicating ongoing improvements in profitability despite significant investments in Predictions.
- Strategic Focus on Predictions: The company plans to invest $200 million to $300 million in its Predictions business in 2026, and with the recent launch of the Predictions feature, customer acquisition costs dropped by over 80% in April, which is expected to enhance market competitiveness and drive revenue growth.
- Stable Future Outlook: Management reaffirmed its fiscal year 2026 revenue guidance of $6.5 billion to $6.9 billion and adjusted EBITDA expectations of $700 million to $900 million, reflecting confidence in future performance, particularly with the upcoming World Cup.
- Market Dynamics Shift: Although early data suggests that Predictions customers are experiencing losses faster than Sportsbook customers, management emphasized the importance of trust and consumer protections, indicating a cautious approach to expansion and investment to ensure the sustainability of core business.
See More
Akamai Technologies Shares Surge 27% on $1.8 Billion Commitment
- Akamai Stock Surge: Shares of Akamai Technologies soared 27% after a leading U.S. frontier model provider committed to a $1.8 billion investment over seven years for its Cloud Infrastructure Services, enhancing market confidence and potentially driving future revenue growth.
- CoreWeave Revenue Guidance Miss: CoreWeave's second-quarter revenue guidance of $2.45 billion to $2.6 billion, with a midpoint of $2.53 billion, fell short of Wall Street's $2.69 billion expectation, resulting in a 7% stock decline, reflecting market concerns about its growth outlook.
- Microchip Earnings Beat: Microchip Technology's stock rose 3% following a fiscal fourth-quarter report that exceeded earnings and revenue expectations, with projected first-quarter revenue between $1.44 billion and nearly $1.47 billion, indicating strong performance in the semiconductor sector.
- Upwork Restructuring Plan: Upwork's announcement of a 24% workforce reduction to maintain profitability led to a 23% drop in its stock price, despite slightly lower-than-expected first-quarter earnings and revenue, showcasing the company's strategic response to evolving market conditions.
See More
DraftKings Exceeds Q1 Expectations, Highlights Super App Potential
- Strong Earnings Report: DraftKings reported a non-GAAP EPS of $0.20 for Q1, beating expectations by $0.03, which reflects ongoing improvements in profitability and boosts investor confidence.
- Revenue Growth: The company achieved Q1 revenue of $1.65 billion, exceeding market expectations by $20 million, indicating robust performance in the online gambling market and an increase in market share.
- Super App Potential: DraftKings highlighted its potential as a super app, planning to integrate more features to enhance user experience, thereby attracting more users and increasing customer loyalty, which could further drive revenue growth.
- Optimistic Market Outlook: With the online gambling market continuously expanding, DraftKings' strong earnings and future development plans position it favorably in a competitive landscape, suggesting potential for long-term growth.
See More
