JOBY, DKNG: Cathie Wood Adds More Joby Aviation and DraftKings Shares

Cathie Wood’s ARK Invest ETFs (exchange-traded funds) made a few small but notable portfolio adjustments on Monday, March 9, as shown in ARK’s daily fund disclosures. This aligns with Wood’s innovation-focused strategy, emphasizing disruptive tech amid a volatile market. She continued increasing exposure to sports-betting platform DraftKings DKNG +0.04% ▲ and aviation company Joby Aviation JOBY +5.13% ▲ .

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On the other hand, ARK funds sold 87,460 shares of gene-sequencing company 10X Genomics TXG +0.48% ▲ for roughly $1.83 million, trimming a position amid slowing growth in the sector. Wood also reduced stakes in diagnostics firm Standard BioTools LAB -0.44% ▼ , social platform Nextdoor Holdings NXDR -0.62% ▼ , and software provider PagerDuty PD -1.25% ▼ , likely reallocating to higher-conviction bets.

Does DraftKings Have a Future?

The ARK Next Generation Internet ETF ARKW +1.94% ▲ purchased 32,155 DKNG shares yesterday for about $809,019. Wood seems to be betting on DraftKings’ future as it aims to enter the prediction markets by replicating its sports-betting dominance strategy. DraftKings is expanding aggressively to all 50 U.S. states while prioritizing its predictions platform to surpass Kalshi, the current top player.

On TipRanks, DKNG has a Strong Buy consensus rating based on 24 Buys and five Hold ratings. The average DraftKings price target of $35.13 implies 39.6% upside potential from current levels. Over the past year, DKNG shares have fallen 32.4%.

What Is JOBY’s Price Target?

Wood acquired 27,759 shares of the eVTOL (electric vertical take-off and landing) air-taxi maker, continuing her consistent accumulation. JOBY shares surged 5.1% yesterday and another 3.6% in after-hours trading on news of being selected by the U.S. Department of Transportation for a new government project to advance air mobility technology.

The FAA has approved pilot projects for air taxis, focusing on integrating drones and electric aircraft into the national airspace. Over the next three years, these programs will test the safe real-world operation of advanced air mobility tech, like eVTOL vehicles.

On TipRanks, JOBY has a Hold consensus rating based on two Buys, four Holds, and two Sell ratings. The average Joby Aviation price target of $13.25 implies nearly 32% upside potential from current levels. Over the past year, JOBY shares have zoomed 63.3%.

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