Cathie Wood Sells $7.3M Worth Of Tesla Shares As EV Maker's Stock Rises Ahead Of Q2 Delivery Numbers
Portfolio Pulse from Shivdeep Dhaliwal
Cathie Wood's ARK Invest Management sold nearly $7.3 million worth of Tesla Inc (TSLA) shares through the ARK Autonomous Technology & Robotics ETF (ARKQ) and ARK Next Generation Internet ETF (ARKW). This comes ahead of Tesla's Q2 delivery numbers, which have caused the shares to trade higher. ARK's Autonomous Technology & Robotics ETF also added 4,576 shares of Advanced Micro Devices Inc. (AMD) and 6,542 shares of Taiwan Semiconductor Manufacturing Co. Ltd (TSM).
June 29, 2023 | 3:45 am
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NEGATIVE IMPACT
ARK Invest sold off nearly $7.3 million worth of Tesla shares, potentially indicating a lack of confidence in the stock's short-term performance.
The sale of a significant amount of Tesla shares by a major investor like ARK Invest could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
ARKQ was used as a vehicle to sell Tesla shares and buy AMD shares.
The sale of Tesla shares and purchase of AMD shares through ARKQ could potentially impact the ETF's performance, but the overall effect is uncertain.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
ARKW was used as a vehicle to sell Tesla shares and buy TSM shares.
The sale of Tesla shares and purchase of TSM shares through ARKW could potentially impact the ETF's performance, but the overall effect is uncertain.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
ARK's Autonomous Technology & Robotics ETF purchased 4,576 shares of AMD.
The purchase of AMD shares by ARK's Autonomous Technology & Robotics ETF could potentially lead to an increase in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
ARK's Autonomous Technology & Robotics ETF and Next Generation Internet ETF purchased a total of 26,656 shares of TSM.
The purchase of TSM shares by ARK's ETFs could potentially lead to an increase in the stock's price in the short term.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 60