On Monday, Cathie Wood-led Ark Invest trimmed its position in Meta Platforms Inc. (NASDAQ:META), while adding shares of several biotechnology companies.
The Meta Platforms Trade
Ark sold 4,520 Meta shares through the ARK Innovation ETF (BATS:ARKK) on Monday. Based on Meta stock closing at $742.96, the transaction was estimated to be worth $3.36 million.
CNBC host Jim Cramer called Meta a “monster long” following data showing strong early user retention for its Muse AI application.
Menlo Ventures partner Deedy Das shared Sensor Tower data covering September across 81 countries. Muse retained 73.3% of new users the day after installation, compared with 41.3% for ChatGPT.
However, ChatGPT overtook Muse between the eighth and ninth days. By Day 14, ChatGPT retained 26.8% of its initial users, compared with 22.5% for Muse. Das described Muse’s retention as “almost as good as ChatGPT.”
Separately, Citi projected that Muse could generate more than $27 billion in annual revenue by 2030, including approximately $23 billion from transactions and $4.5 billion from subscriptions.
As reported Oct. 7, Muse had surpassed 6.6 million downloads and reached 1.8 million daily active users following its Sept. 8 launch. The agent can compare products, book travel and make purchases with user approval.
Amazon’s decision to block Muse from its shopping site highlighted potential obstacles to its commerce ambitions. Meta also expects 2026 capital expenditures of $130 billion to $145 billion as it expands its AI infrastructure.
Other Key Trades
- DraftKings Inc. (DKNG): ARKF and ARKW sold a combined 285,546 shares.
- CRISPR Therapeutics AG (CRSP): Ark purchased 43,887 shares through ARKG.
- Guardant Health Inc. (GH): Ark bought 12,720 shares through ARKG.
- Beam Therapeutics Inc. (BEAM): Ark purchased 65,154 shares through ARKG.
- Compass Pathways PLC (CMPS): Ark bought 284,019 shares through ARKG.
- Nurix Therapeutics Inc. (NRIX): Ark purchased 95,661 shares through ARKG.
- Intellia Therapeutics Inc. (NTLA): Ark bought 32,596 shares through ARKG.
- Personalis Inc. (PSNL): Ark sold 730,303 shares through ARKG.
- CareDx Inc. (CDNA): Ark sold 76,589 shares through ARKG.
- Symbotic Inc. (SYM): Ark purchased 22,804 shares through ARKQ.
Meta stock has a Momentum score in the 63rd percentile and a Growth score in the 79th percentile, according to Benzinga Edge rankings.
See More: Top Momentum Stocks
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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