Cathie Wood Continues Iridium Shopping Spree — Ark Invest Buys $3.6M Worth Of Satellite Company's Stock
Portfolio Pulse from Benzinga Neuro
Cathie Wood's Ark Invest made several significant trades on August 2, 2023, including a $3.6 million purchase of Iridium Communications Inc (IRDM) shares through its ARK Autonomous Technology & Robotics ETF (ARKQ). This follows Iridium's recent approval of a $400 million share repurchase program and the launch of its Iridium Certus aviation commercial service. Ark Invest also bought shares of AvidXchange Holdings Inc (AVDX) and Accolade Inc (ACCD), and sold shares of Iovance Biotherapeutics Inc (IOVA).
August 04, 2023 | 12:33 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Ark Invest's purchase of Accolade shares could boost the stock's price in the short term.
The purchase of Accolade shares by Ark Invest could increase investor confidence in the stock, potentially driving up its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
The purchase of Iridium shares could potentially increase the value of the ARKQ ETF.
The purchase of Iridium shares could potentially increase the value of the ARKQ ETF, as the performance of the ETF is directly linked to the performance of its underlying assets.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Ark Invest's purchase of AvidXchange shares could boost the stock's price in the short term.
The purchase of AvidXchange shares by Ark Invest could increase investor confidence in the stock, potentially driving up its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60
POSITIVE IMPACT
Ark Invest's purchase of Iridium shares could boost the stock's price in the short term.
The purchase of Iridium shares by a prominent investment firm like Ark Invest could increase investor confidence in the stock, potentially driving up its price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ark Invest's sale of Iovance Biotherapeutics shares could put downward pressure on the stock's price in the short term.
The sale of Iovance Biotherapeutics shares by Ark Invest could decrease investor confidence in the stock, potentially driving down its price.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60