Cathie Wood's Ark Invest Buys Spotify, Iridium Shares — Trims Tesla, Coinbase Holdings
Portfolio Pulse from Benzinga Neuro
Ark Invest, led by Cathie Wood, made several trades on Tuesday, including buying shares in Spotify Technology SA and Iridium Communications Inc, and selling shares in Coinbase Global Inc and Tesla Inc. The purchases were made despite both Spotify and Iridium missing their Q2 revenue consensus. Ark Invest also continued its recent trend of selling Tesla shares, despite the EV maker's recent stock strength and positive growth projections.
July 26, 2023 | 2:39 am
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NEGATIVE IMPACT
Ark Invest sold 53,675 shares of Coinbase.
The sale of Coinbase shares by Ark Invest indicates a negative outlook for the company. This could potentially lead to a short-term decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Ark Invest sold 20,700 shares of Tesla, continuing its recent trend of selling the EV maker's shares.
The continued sale of Tesla shares by Ark Invest indicates a negative outlook for the company. This could potentially lead to a short-term decrease in the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Ark Invest purchased shares of Iridium Communications despite the company missing its Q2 revenue consensus and registering a quarterly EPS loss.
The purchase of Iridium shares by Ark Invest indicates a positive outlook for the company, despite its recent earnings miss. This could potentially lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Ark Invest purchased 54,143 shares of Spotify despite the company missing its Q2 revenue consensus.
The purchase of Spotify shares by Ark Invest indicates a positive outlook for the company, despite its recent earnings miss. This could potentially lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100