Cathie Wood Goes All-In On DraftKings With $8 Million Stock Purchase As Rivals Like Kalshi Threatens Market Share, Sells Hot Stock Rocket Lab - DraftKings (NASDAQ:DKNG)

On Tuesday, Cathie Wood-led Ark Invest executed significant trades involving DraftKings Inc. (NASDAQ:DKNG), Rocket Lab Corp (NASDAQ:RKLB), and DoorDash Inc. (NASDAQ:DASH).The DraftKings TradeThe ARK Innovation ETF (BATS:ARKK) fund purchased 236,289 shares of DraftKings on Tuesday. With DraftKings’ shares closing at $34.36, the transaction is valued at approximately$ 8.12 million. This move comes as DraftKings faces mounting pressure from emerging competitors like Kalshi, which has been valued at $5 billion. ...