Cathie Wood Offloads Whopping $47M Of Tesla Last Week Amid Stock's Lean Run And Doubles Down On This AI Stock
Portfolio Pulse from Shanthi Rexaline
Cathie Wood's Ark sold $46.92 million worth of Tesla (TSLA) shares last week amid concerns over potential miss on Q3 deliveries and near-term margins. Meanwhile, Ark increased its stake in Palantir Technologies (PLTR), buying 1.03 million shares valued at $14.43 million, reflecting the firm's belief in AI's disruptive potential.
September 24, 2023 | 2:55 pm
News sentiment analysis
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NEGATIVE IMPACT
Ark's sale of Tesla shares could indicate a lack of confidence in the company's near-term prospects.
Ark's sale of Tesla shares suggests that the firm may be concerned about Tesla's near-term prospects, particularly in light of worries about a potential miss on Q3 deliveries and near-term margins. This could negatively impact Tesla's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The purchase of Palantir shares could impact the performance of Ark's ARKF ETF.
The purchase of Palantir shares could impact the performance of Ark's ARKF ETF, although the direction of the impact is uncertain.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
The sale of Tesla shares and purchase of Palantir shares could impact the performance of Ark's ARKK ETF.
The sale of Tesla shares and purchase of Palantir shares could impact the performance of Ark's ARKK ETF, although the direction of the impact is uncertain.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
The sale of Tesla shares and purchase of Palantir shares could impact the performance of Ark's ARKW ETF.
The sale of Tesla shares and purchase of Palantir shares could impact the performance of Ark's ARKW ETF, although the direction of the impact is uncertain.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 80
POSITIVE IMPACT
Ark's purchase of Palantir shares reflects a positive outlook on the company's AI potential.
Ark's purchase of Palantir shares indicates that the firm is bullish on Palantir's AI potential. This could positively impact Palantir's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100