Cathie Wood's Ark Invest Sells Robinhood, Coinbase Shares — Buys $3.5M Worth Of Stock Of This Social Media Company
Portfolio Pulse from Benzinga Neuro
Ark Invest, led by Cathie Wood, sold shares of Robinhood Markets Inc (HOOD) and Coinbase Global Inc (COIN) while increasing its stake in Pinterest Inc (PINS). The firm also bought shares of MercadoLibre Inc (MELI) and AvidXchange Holdings Inc (AVDX), and sold shares of Iovance Biotherapeutics Inc (IOVA). The trades were made through Ark Fintech Innovation ETF (ARKF) and ARK Next Generation Internet ETF (ARKW).
August 01, 2023 | 2:11 am
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POSITIVE IMPACT
Ark Invest bought 315,011 shares of AvidXchange, potentially indicating a bullish outlook.
The purchase of a large number of shares by Ark Invest could potentially lead to an increase in the stock's price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark Invest bought 2,154 shares of MercadoLibre, potentially indicating a bullish outlook.
The purchase of shares by Ark Invest could potentially lead to an increase in the stock's price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark Invest increased its stake in Pinterest, potentially indicating a bullish outlook.
The purchase of additional shares by Ark Invest, combined with an analyst upgrade, could potentially lead to an increase in the stock's price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ark Invest sold 1,055 shares of Coinbase, potentially indicating a bearish outlook.
The sale of shares by Ark Invest, combined with ongoing regulatory scrutiny, could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ark Invest sold 373,175 shares of Robinhood, potentially indicating a bearish outlook.
The sale of a large number of shares by a major investor like Ark Invest could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ark Invest sold 73,671 shares of Iovance Biotherapeutics, potentially indicating a bearish outlook.
The sale of shares by Ark Invest could potentially lead to a decrease in the stock's price in the short term.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80