Cathie Wood's Ark Sells Tesla Stock For 3rd Straight Session As Week's Disposals Total Whopping $30M
Portfolio Pulse from Shanthi Rexaline
Ark Invest, founded by Cathie Wood, sold Tesla shares for the third consecutive session, totaling $30M in disposals for the week. Three of Ark's ETFs, ARKK, ARKQ, and ARKW, sold Tesla shares on Friday. This comes as Tesla reported below-consensus Q3 deliveries and implemented another round of price cuts in the U.S.
October 07, 2023 | 7:34 pm
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NEGATIVE IMPACT
ARKK, Ark's flagship ETF, could see its performance affected by the selling of Tesla shares.
As Ark's flagship ETF, ARKK's performance could be impacted by the selling of Tesla shares, one of its holdings. This could potentially lead to a decrease in the ETF's value.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
ARKQ sold Tesla shares, which could impact its performance.
ARKQ's selling of Tesla shares could impact its performance, potentially leading to a decrease in the ETF's value.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
ARKW sold Tesla shares, which could impact its performance.
ARKW's selling of Tesla shares could impact its performance, potentially leading to a decrease in the ETF's value.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Ark Invest's continued selling of Tesla shares could put downward pressure on the stock in the short term.
Ark Invest's continued selling of Tesla shares indicates a lack of confidence in the stock's short-term performance, which could influence other investors and put downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100