TLDR
- ARK Invest sold 1.87 million Pinterest shares valued at $50.2 million after the company missed earnings expectations
- Pinterest CFO cited slowing advertising spending in U.S. and Canada during recent earnings call
- ARK purchased 169,407 Bitmine Immersion Technologies shares worth $6.19 million across three ETFs
- The fund added $5.51 million in Twist Bioscience stock and $3 million in Beam Therapeutics shares
- ARK also divested 49,041 Iridium Communications shares worth $818,494 in continued selling pattern
Cathie Wood’s ARK Invest disclosed major portfolio moves on November 14. The investment firm sold millions of Pinterest shares while adding positions in crypto infrastructure and biotechnology companies.
ARK Innovation ETF offloaded 1,876,328 Pinterest shares worth approximately $50.2 million. The sale came one day after the fund sold 572,735 shares for about $15.6 million. The combined two-day exit totaled roughly $65.8 million.
The Pinterest sales followed disappointing quarterly results. The social media company missed Wall Street earnings estimates and provided weak forward guidance. CFO Julia Donnelly highlighted “pockets of moderating ad spend” across U.S. and Canada markets during the earnings conference call.
ARK also trimmed its Iridium Communications position. The satellite services provider saw 49,041 shares sold for about $818,494. This continued a week-long selling trend in the stock.
Bitmine Emerges as Top Buy
Bitmine Immersion Technologies received the largest new investment. ARK purchased 169,407 shares across three funds for approximately $6.19 million. The buying occurred through ARK Innovation, ARK Next Generation Internet, and ARK Fintech Innovation ETFs.
This purchase followed an even larger buy the previous day. ARK acquired 242,347 Bitmine shares worth about $9.8 million on November 13. The two consecutive days of buying totaled over $16 million.
Bitmine focuses on crypto infrastructure and immersion cooling technology. The company serves the cryptocurrency mining and artificial intelligence sectors.
Biotech Stocks Gain Favor
Twist Bioscience received substantial investment from ARK. The fund added 184,505 shares valued at roughly $5.51 million. This continued a pattern of consistent buying throughout the week.
Beam Therapeutics also joined the portfolio. ARK bought 138,677 shares worth about $3 million. The gene therapy company represents ARK’s ongoing interest in genomic medicine.
The biotech purchases combined with Bitmine investments totaled over $14 million in new capital deployment. This contrasted sharply with the Pinterest exit.
Wood’s trading activity reflects a shift away from social media stocks. The capital moved toward crypto infrastructure and biotechnology holdings. Bitmine received the largest dollar commitment among new positions.
ARK’s ETFs published the trades as part of standard daily disclosure requirements. All transactions occurred on November 14, 2025.
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