Cathie Wood's Ark Outshines S&P 500, Nasdaq In H1: Here Are The Major Trades It Made
Portfolio Pulse from Shanthi Rexaline
Ark Investment Management, led by Cathie Wood, has seen a strong performance in H1 2023, with its flagship fund, Ark Innovation ETF (ARKK), surging approximately 35%. The firm's top holdings include Tesla, Roku, Zoom Video Communications, Coinbase Global, and Block. Ark has made significant trades in these and other stocks, including UiPath, Teradyne, Roblox, Nvidia, Taiwan Semiconductor Manufacturing Company, Advanced Micro Devices, Robinhood Markets, Exact Sciences, Shopify, DraftKings, and Surface Oncology. Other Ark ETFs have also performed well. Tech stocks are expected to see more momentum in H2 2023.
June 28, 2023 | 9:59 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Ark Innovation ETF has surged approximately 35% in H1 2023, outperforming the S&P 500 and Nasdaq.
The strong performance of ARKK in H1 2023 is likely to have a positive impact on its short-term price. The ETF's strategy of investing in companies working on disruptive innovation, particularly tech stocks, has paid off.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Despite negative headlines in the crypto space, Ark Investment has shown faith in Coinbase Global by purchasing 3.34 million shares and only selling 160,887 shares in one session.
Ark Investment's continued investment in Coinbase, despite selling some shares, indicates confidence in the company's future performance. This could have a positive impact on Coinbase's short-term price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Roku is one of the top five holdings of Ark Investment.
Being one of the top five holdings of Ark Investment indicates the firm's confidence in Roku's performance. This could have a positive impact on Roku's short-term price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Even as Block found itself in the eye of a storm after a short-seller report, Ark buttressed the stock by accumulating 2.1 million shares. The firm sold only 25,914 Block shares in the first half.
Ark Investment's continued investment in Block, despite selling some shares, indicates confidence in the company's future performance. This could have a positive impact on Block's short-term price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Ark Investment has bought 1.193 million Tesla shares and sold 804,199 shares in H1 2023. The firm has a 2027 price target of $2,000 for Tesla.
Ark Investment's continued investment in Tesla, despite selling some shares, indicates confidence in the company's future performance. This could have a positive impact on Tesla's short-term price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100
POSITIVE IMPACT
Ark Investment has bought 409,993 Zoom Video Communications shares in H1 2023 without affecting any sales.
Ark Investment's continued accumulation of Zoom shares indicates confidence in the company's performance. This could have a positive impact on Zoom's short-term price.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100