Snap (SNAP)
Snap stock was doing just fine this year — up until this earnings season.
The camera and social media company reported disappointing Q3 results on Thursday. While revenue grew 57% year-over-year to $1.07 billion, it missed Wall Street’s expectation of $1.1 billion.
Apple’s iPhone privacy changes disrupted Snap’s advertising business. Management also warned that global supply chain interruptions and labor shortages could dampen advertising demand over the short-term
Snap shares plunged 23% in after-hours trading on the bearish outlook, but Wood moved quickly to pounce on the decline.
On Friday, Ark scooped up 230,323 shares of Snap.
An app called Acorns automatically rounds up purchases made on your credit or debit card to the nearest dollar and places the excess "change" into a smart investment portfolio. You get $10 immediately from your first investment.
Get $10Twitter (TWTR)
Snap’s plummeting price triggered a sell-off in other social media companies, too.
In after-hours trading Thursday, both Facebook and Twitter dropped about 5%. Even Google parent company Alphabet slipped more than 2%.
On Friday, Wood’s Ark picked up 448,944 shares of Twitter.
According to the latest earnings report, Twitter had 211 million monetizable daily active users in Q3, 5 million more than what it had in Q2.
Revenue totaled $1.28 billion, up 37% year over year and in line with analyst expectations.
Of course, if you’re on the fence about jumping into social media stocks when they’re facing so much uncertainty, you can build your own tech portfolio just by using digital nickels and dimes.
Skillz (SKLZ)
With a market cap of around $4.4 billion, mobile gaming company Skillz is much smaller than any of the names mentioned above.
But the stock has gotten a lot of investor attention, partially due to its swingy nature.
At the beginning of this year, Skillz was trading at $18 per share. It soared to well above $40 in early February before losing upward momentum. By mid-October, the shares had fallen to less than $10.
Unlike its volatile stock price, Skillz’s business has been trending in a steady direction: upward.
In fact, the company has generated 22 consecutive quarters of top-line growth. Its Q2 revenue of $89.5 million represented a 52% increase from a year ago.
Skillz shares have perked up a bit in recent days, likely fueled by investor excitement over Wood’s strong bullishness.
Last Thursday, Ark Invest bought over 2.1 million shares of the company.
It seems like a tricky time to get into real estate, and being a landlord isn't as passive as you think. Look at these low-stress options instead.
Read MoreA creative alternative
Investors like to follow fund managers for stock picks. But stocks aren’t the only thing you’ll find in the portfolios of Wall Street tycoons.
Many of them also invest in fine art.
Contemporary artwork has already outperformed the S&P 500 by a commanding 174% over the past 25 years, according to the Citi Global Art Market chart.
Investing in fine art by the likes of Banksy and Andy Warhol used to be an option only for the ultra-rich, like Wood.
But with a new investing platform, you can invest in iconic artworks, too, just like Jeff Bezos and Bill Gates do.
Sponsored
Never overpay on Amazon again
Make sure to price-check online purchases with the help of Capital One Shopping. It’s totally free to use and takes less than a minute to set up.
Last year the service saved its customers over $160 million, and with just a few clicks you can start saving, too.
Download Capital One Shopping today and stop paying more than you have to for the exact same stuff.