Cathie Wood Continues To Book Profits As Tesla Stock Bulldozes Its Way Higher: Here's What ARK Is Buying
Portfolio Pulse from Bhavik Nair
ARK Investment Management, led by Cathie Wood, continued to book profits in Tesla shares this week, selling over 31,500 shares valued at over $8.6 million. The sale was done via ARK Innovation ETF (ARKK), ARK Autonomous Technology & Robotics ETF (ARKQ), and ARK Next Generation Internet ETF (ARKW). ARK also bought over 144,900 shares of Twilio (TWLO) and 74,200 shares of Zoom Video Communications (ZM).
June 21, 2023 | 1:13 am
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POSITIVE IMPACT
ARK Investment Management bought over 144,900 shares of Twilio, valued at over $9.7 million.
ARK Investment's purchase of Twilio shares indicates a positive outlook for the company. This could lead to a short-term positive impact on Twilio's stock price as investors may view this as a sign of confidence in the company's prospects.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
ARK Investment Management bought over 74,200 shares of Zoom Video Communications, valued at over $5.2 million.
ARK Investment's purchase of Zoom Video Communications shares indicates a positive outlook for the company. This could lead to a short-term positive impact on Zoom's stock price as investors may view this as a sign of confidence in the company's prospects.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
ARK Innovation ETF (ARKK) sold Tesla shares as part of ARK Investment Management's profit booking.
The sale of Tesla shares by ARKK is part of ARK Investment Management's overall strategy to book profits. This may not have a significant short-term impact on ARKK's stock price as it is just one of the many holdings in the ETF.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
ARK Autonomous Technology & Robotics ETF (ARKQ) sold Tesla shares as part of ARK Investment Management's profit booking.
The sale of Tesla shares by ARKQ is part of ARK Investment Management's overall strategy to book profits. This may not have a significant short-term impact on ARKQ's stock price as it is just one of the many holdings in the ETF.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
ARK Next Generation Internet ETF (ARKW) sold Tesla shares as part of ARK Investment Management's profit booking.
The sale of Tesla shares by ARKW is part of ARK Investment Management's overall strategy to book profits. This may not have a significant short-term impact on ARKW's stock price as it is just one of the many holdings in the ETF.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
ARK Investment Management sold over 31,500 Tesla shares, valued at over $8.6 million, as the stock continues to rally.
ARK Investment's sale of Tesla shares indicates that they are booking profits as the stock price continues to rise. This could lead to a short-term negative impact on Tesla's stock price as investors may follow suit and sell their shares to book profits as well.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100