Among the latest investors for DoorDash right now is Ark Invest, an American asset management firm which was founded and led by investor Cathie Wood. Of course, this is optimistic news.
DoorDash went off to a great start on Monday, since Cathie Wood and her Ark Invest made significant trades across ETFs, covering not only DoorDash, but several other companies, from Advanced Micro Devices to Taiwan Semiconductor Manufacturing Co. Ltd.
For DoorDash, specifically, Ark Invest basically topped up its stake, purchasing 24,308 shares through ARK Autonomous Technology & Robotics ETF – ETF is exchange-traded fund – with 8,770 shares through ARK Space & Defense Innovation ETF.
Wood is making a three-point shot, if this were basketball. DoorDash closed at $164.66, so the total value of these investments was around a whopping $5.4 million.
This came after DoorDash reported earnings of 48 cents per share last week, missing the target a bit, but still paving the way for favorable investments that won’t let you lose.
In a post on X, Wood stated that companies that harness artificial intelligence nowadays are changing the gameplay, citing DoorDash as an example.
“The DoorDash example is a silly one in an otherwise extremely great piece… That sounds clean in theory. It is far messier in reality. We are talking about food and physical goods. In what near-term world is there not a human in the loop? People are not going to wake up and let AI surprise them with random meals every day because it saved 37 cents. Price matters, yes. But so do preference, habit, brand trust, speed, and reliability. Consumers are not pure price-optimizing robots… Agent-driven commerce does not automatically mean incumbents get disintermediated. It could just as easily mean the currently scaled platforms win,” Wood’s company wrote on the former Twitter platform.
Ark Invest’s people and colleagues agree to those statements, such as Frank Downing.
He wrote on X, “Would add on that organizational adoption is often much slower than the rate of technology change would imply. Hundreds of thousands of merchants will not [switch or add] new vendors overnight. Some motivated owners will figure it out themselves, many others need to be sold to. If their ‘management agent’ is going to figure it out for them, someone needs to build and sell the business that management agent, and then that business needs to start trusting it. Could happen, but will take time.”
Wood is an influential investor who established Ark Investment Management, simply known as Ark Invest, in 2014. She is known for her bullish, yet long-term focus on “disruptive innovation,” talking about brand-new technologies such as AI, blockchain, robotics, and DNA sequences in money.
Headquartered in Florida, her asset management company, Ark Invest, focuses on thematic investing in “disruptive innovation,” fields that are part of those under her wing.
Aside from DoorDash, Advanced Micro Devices, and Taiwan Semiconductor Manufacturing, Wood’s Ark Invest also has investments in Figma, Alphabet, and so much more. Sign up for your account today to share your insights!