Cathie Wood's Ark Invest Continues To Sell Shares Of Warren Buffett-Backed BYD — Coinbase Holdings Trimmed As Well
Portfolio Pulse from Benzinga Neuro
Ark Invest, led by Cathie Wood, has continued to sell shares of Chinese EV maker BYD Co Ltd and Coinbase Global Inc. The firm sold 19,752 shares of BYD through its ARK Autonomous Technology & Robotics ETF and also reduced its holdings in Coinbase by selling 6,992 shares. Additionally, Ark Invest's ARK Genomic Revolution ETF sold shares of Exact Sciences Corp and Iovance Biotherapeutics Inc, and bought shares of Cameco Corp.
July 27, 2023 | 1:39 am
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Ark Invest sold 19,752 shares of BYD, despite the company's recent record deliveries and expansion plans into India's EV market.
The sale of BYD shares by Ark Invest, despite the company's positive developments, could indicate a lack of confidence in the company's short-term performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ark Invest reduced its holdings in Coinbase by selling 6,992 shares, continuing its recent trend of trimming its holdings in the cryptocurrency exchange.
The continued reduction of Coinbase shares by Ark Invest could indicate a lack of confidence in the company's short-term performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ark Invest's ARK Genomic Revolution ETF sold 10,000 shares of Exact Sciences Corp.
The sale of Exact Sciences shares by Ark Invest could indicate a lack of confidence in the company's short-term performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
NEGATIVE IMPACT
Ark Invest's ARK Genomic Revolution ETF sold 129,463 shares of Iovance Biotherapeutics Inc.
The sale of Iovance Biotherapeutics shares by Ark Invest could indicate a lack of confidence in the company's short-term performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Ark Invest's ARK Autonomous Technology & Robotics ETF bought 29,880 shares of Cameco Corp.
The purchase of Cameco Corp shares by Ark Invest could indicate confidence in the company's short-term performance.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60