Cathie Wood's Ark Invest Adjusts Portfolio — Sells Nvidia Shares Worth Nearly $1.9M Amid AI Surge
Portfolio Pulse from Benzinga Neuro
Ark Invest, led by Cathie Wood, sold $1.86 million worth of NVIDIA Corp shares through ARK Genomic Revolution ETF. This decision follows NVIDIA's recent Q2 earnings report and its performance in the AI sector. Ark Invest also made significant purchases of shares in CRISPR Therapeutics, Intellia Therapeutics, Accolade, and Recursion Pharmaceuticals.
August 25, 2023 | 2:57 am
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NEGATIVE IMPACT
Ark Invest sold a significant amount of NVIDIA shares, potentially indicating a lack of confidence in the company's short-term performance.
The sale of NVIDIA shares by Ark Invest could potentially impact the company's stock price negatively in the short term. Investors may interpret this as a lack of confidence in NVIDIA's short-term performance, especially considering the company's recent Q2 earnings report and its performance in the AI sector.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Ark Invest made significant trades through ARK Genomic Revolution ETF, including the sale of NVIDIA shares and the purchase of shares in several other companies.
The trades made by Ark Invest through ARK Genomic Revolution ETF could potentially impact the ETF's performance in the short term. However, the overall impact is likely to be neutral as the fund diversified its holdings by selling NVIDIA shares and buying shares in several other companies.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Ark Invest purchased a significant number of Accolade shares, potentially indicating confidence in the company's short-term performance.
The purchase of Accolade shares by Ark Invest could potentially impact the company's stock price positively in the short term. Investors may interpret this as a sign of confidence in Accolade's short-term performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Ark Invest purchased a significant number of CRISPR Therapeutics shares, potentially indicating confidence in the company's short-term performance.
The purchase of CRISPR Therapeutics shares by Ark Invest could potentially impact the company's stock price positively in the short term. Investors may interpret this as a sign of confidence in CRISPR's short-term performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Ark Invest purchased a significant number of Intellia Therapeutics shares, potentially indicating confidence in the company's short-term performance.
The purchase of Intellia Therapeutics shares by Ark Invest could potentially impact the company's stock price positively in the short term. Investors may interpret this as a sign of confidence in Intellia's short-term performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Ark Invest purchased a significant number of Recursion Pharmaceuticals shares, potentially indicating confidence in the company's short-term performance.
The purchase of Recursion Pharmaceuticals shares by Ark Invest could potentially impact the company's stock price positively in the short term. Investors may interpret this as a sign of confidence in Recursion's short-term performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100