Cathie Wood Sells $98M Worth Of Tesla Shares Ahead Of Possible Fed-Induced Market Volatility
Portfolio Pulse from Bhavik Nair
Cathie Wood's ARK Investment Management sold over 393,000 Tesla shares worth $98 million ahead of potential market volatility due to the upcoming Federal Reserve policy announcement. The sale was conducted through ARK Innovation ETF, ARK Autonomous Technology & Robotics ETF, and ARK Next Generation Internet ETF.
June 13, 2023 | 1:15 am
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NEGATIVE IMPACT
ARK Investment Management sold over 393,000 Tesla shares worth $98 million, possibly due to upcoming market volatility from the Federal Reserve policy announcement.
The sale of a significant amount of Tesla shares by ARK Investment Management could lead to a short-term negative impact on Tesla's stock price, as it may signal a lack of confidence in the stock's performance amid potential market volatility.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
ARK Innovation ETF sold Tesla shares worth $98 million, possibly in anticipation of market volatility due to the upcoming Federal Reserve policy announcement.
The sale of Tesla shares by ARK Innovation ETF may not have a significant short-term impact on the ETF itself, as it is a diversified fund and the sale could be a strategic move to mitigate potential market volatility.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
ARK Autonomous Technology & Robotics ETF sold Tesla shares worth $98 million, possibly in anticipation of market volatility due to the upcoming Federal Reserve policy announcement.
The sale of Tesla shares by ARK Autonomous Technology & Robotics ETF may not have a significant short-term impact on the ETF itself, as it is a diversified fund and the sale could be a strategic move to mitigate potential market volatility.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
NEUTRAL IMPACT
ARK Next Generation Internet ETF sold Tesla shares worth $98 million, possibly in anticipation of market volatility due to the upcoming Federal Reserve policy announcement.
The sale of Tesla shares by ARK Next Generation Internet ETF may not have a significant short-term impact on the ETF itself, as it is a diversified fund and the sale could be a strategic move to mitigate potential market volatility.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100
POSITIVE IMPACT
General Motors announced plans to integrate the North American Charging Standard connector design into its EVs starting in 2025, expanding access to charging at 12,000 Tesla Superchargers stations.
The announcement by General Motors to integrate the NACS connector design into its EVs could have a positive short-term impact on GM's stock price, as it shows the company's commitment to expanding its EV infrastructure and collaborating with Tesla's charging network.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Cathie Wood's funds bought over 174,800 shares of Meta Platforms Inc worth $47 million. Meta shares have surged over 117% since the beginning of the year.
The purchase of Meta Platforms shares by Cathie Wood's funds could have a positive short-term impact on Meta's stock price, as it signals confidence in the company's performance and growth potential.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50