Carrie Wood Buys Ping An Good Doctor; Shares Soar 21%

The ETF fund bought 497,800 shares of Ping An Healthcare, roughly $6.8 million.
Shirley TianFeb 15,2021,14:54

After betting on Chinese tech giant Baidu (Nasdaq: BIDU) and Tencent Holdings (OTC: TCEHY; HKEX: 0700), China’s online healthcare service platform Ping An Good Doctor (HKEX: 1833) got the interest of Cathie Wood and her team at Ark Invest.

According to the latest filing, the ETF fund bought 497,800 shares of Ping An Healthcare, roughly $6.8 million, on Wednesday.

The stock in Ping An Good Doctor has climbed over 42% since the beginning of 2021. Thursday, Good Doctor shares closed at HK$128 per share in Hong Kong, up 21.1%, the biggest gain since its 2018 debut.

Ping An Good Doctor claims to be the largest mobile medical application in China in terms of user scale. Ping An Good Doctor employs 1409 medical personnel in its in-house medical team and contracts renowned external doctors.

As of the end of December 2019, there were 315 million registered users and the Company's MAU reached 66.9 million.

Wood is most known for her ultra-bullish call on Tesla (Nasdaq: TSLA). In China, they call her the female Warren Buffett, while local newspapers follow her every major investment.

According to Bloomberg, her $21.4 billion flagship Ark Innovation ETF (ARKK)’s biggest holding right now is electric vehicle maker Tesla. Other large holdings include Square Inc. and Tencent Holdings Ltd. Ping An Healthcare accounts for less than 0.2% of the fund.

Currently, ARK is the eleventh largest issuer with total assets under management just crossed $50 billion milestone last week, up from only $3.6 billion at the same time last year, according to the Street.

Topics:Ark Invest