Cathie Wood Sells $7M Tesla Stock Friday Amid Pullback, Bets Big On This Crypto-Linked Stock
Portfolio Pulse from Shanthi Rexaline
Cathie Wood's Ark Invest sold $7M worth of Tesla shares on Friday, while buying $10.18M worth of Robinhood shares. Tesla's stock has been volatile recently due to back-to-back downgrades.
June 24, 2023 | 6:34 am
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POSITIVE IMPACT
Ark Invest bought $10.18M worth of Robinhood shares, marking the second straight day of Robinhood buying.
Ark Invest's purchase of Robinhood shares for the second straight day indicates confidence in the stock's short-term performance. This may positively impact Robinhood's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Ark Invest sold $7M worth of Tesla shares amid recent volatility and back-to-back downgrades.
Ark Invest's sale of Tesla shares indicates a potential lack of confidence in the stock's short-term performance. The recent volatility and downgrades may negatively impact Tesla's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100